CWRT Business Plan Template

CWRTBUSINESS PLAN

TEMPLATE

© Coventry and Warwickshire Reinvestment Trust 2013/14

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Contents:

CWRT Business Plan....................................................................................................1Business Details............................................................................................................3Business Summary........................................................................................................4Business and Personal Objectives................................................................................5Key People....................................................................................................................6Support Network............................................................................................................6SWOT Analysis.............................................................................................................7Business Premises........................................................................................................8Legal Matters.................................................................................................................9Products or Services...................................................................................................10MARKETING SECTION..............................................................................................11Marketing Summary and Market Research.................................................................11Unique Selling Points..................................................................................................12Suppliers......................................................................................................................12Customers & Consumers............................................................................................13Competition.................................................................................................................14Competitor SWOT.......................................................................................................15Marketing Plan.............................................................................................................16Pricing Strategy...........................................................................................................17Start-up Costs..............................................................................................................18Funding Requirements -..............................................................................................19Personal Survival Budget............................................................................................20Sales Forecast.............................................................................................................21Profit (Loss) Projection................................................................................................22Break-Even Calculation...............................................................................................23Balance Sheet.............................................................................................................24Cash Flow Forecast.....................................................................................................25Financial Assumptions.................................................................................................26Financial Targets.........................................................................................................26Contingency Plans.......................................................................................................27Financial Analysis........................................................................................................28


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Business Name

Names of Owners,

Partners or Directors

Outline Business Description

Trading Status

Business Address

Post Code

Home Address

Post Code

Telephone (Business)

Telephone (Mobile)

Email address

Website address

Accountant

Bank

Date of Plan

Business Details:


3

Business Summary

A brief account of the business; including a clear description of the products or service - how the proposal evolved, where it will be based, what are the products or services, who is involved, when is the proposed start date of trading, legal status of the business, markets to be aimed at, an overview of start-up funding, financial assumptions etc.


4

Business and Personal Objectives

Objectives need to state what you want, when you want it and how you are going to get it.Try and make objectives realistic. Consider objectives for the business and your personal expectations.Look at the first, second and third years.

Personal Objectives:

Business Objectives:

Year One:

Year Two:

Year Three:


5

Key People

Personal profile of the main skills and experience of the key personnel, summarising their CV’s (which should be attached as appendices). Describe the roles and responsibilities they will take in the new business. Enclose an organisation plan to support this section for - Partnership or a Limited Company

Support Network

What external support will be a resource to the business (e.g., business adviser, banker, trade association friends and family); what input might they have to the business?


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SWOT AnalysisBusiness & Personal

PERSONAL STRENGTHS PERSONAL WEAKNESSES

PERSONAL OPPORTUNITIES PERSONAL THREATS

BUSINESS STRENGTHS BUSINESS WEAKNESSES

BUSINESS OPPORTUNITIES BUSINESS THREATS


8

BUSINESS PREMISES

Describe: Identify the location of your premises Size, layout, usage, any physical alterations needed, refurbishment details (inc.costs) Method of acquisition i.e. purchase outright/rent/lease etc… Costs considered e.g. Insurance/Heating/lighting/cleaning etc….. Legal and statutory requirements: licences/registrations/permissions needed e.g.

Environmental Health, hygiene, fire, Financial Services Registration, trading licences, planning etc….

If working from home, consider layout of the office/working area/costs involved for alterations

Why did you select the premises? : What choices did you have?


9

LEGAL MATTERS

What legal aspects have you researched relating to the setting up and running of your business?What actions have you taken to comply?

Regulatory Requirements

Your Actions Who can help?

Business Structure

Financial Issuese.g. Tax, N.I, VAT

Health & Safety

Environmental Issues

Employees

Premises

Disabled Customers

Intellectual Property

Specific Licences

Data Protection


10

Products or Services

Describe your products or services – what are they?How will they be produced/ manufactured? How will they be delivered, paid for? Include a copy of your terms and conditions – payment terms, refunds, guarantees etc.


11

MARKETING PLAN

Within the next section you need to describe how you will you get the right product/service to the right people and place

at the right price and on time…….

MARKETING SUMMARYFor example: Who is your base client/customer, what is your marketing budget, who will sell the product or service, how you propose to promote your products and services to your customers?


12

Market Research

Detail the various types of market research you have carried out and the sources you used and the analysis and conclusions made about customers and competitors – in the following tables

Unique Selling Points

List your Competitive advantages – why should your customers buy from you?


13

Suppliers

For example: Who are they, what is their range of products or services, where are they, what is the minimum order, what credit and discount terms are available, etc?


14

Customers & Consumers

For example: Who is your base customer, where are they, what do they want, how much are they prepared to pay, when do they buy, etc. who uses your end product or service?

How will you ensure you give good service? – Terms and Conditions included here.How will you get feedback from your customers?


15

Competition

For example: Who are they, what is their range of products or services, where are they, what is the minimum order, what credit and discount terms are available, etc?


16

Competitor SWOT

STRENGTHS:

WEAKNESSES:

OPPORTUNITIES:

THREATS:

How can you use this SWOT analysis to benefit your own business?


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Marketing Plan

Marketing ActivityWhat are you going to do?

i.e. leaflet drops in the local area

CostHow much will the activity cost you?

i.e. £200.00

Start DateWhen are you going to start the activity?

i.e. to be distributed in February 2014

DurationHow long will you do

this activity for?

i.e. will do for 3 months and monitor

effectiveness


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Pricing Strategy

What are your base prices, what are your margins, what credit terms are involved, will delivery be included, if not how much, will there be a bulk purchase price, etc. How did you decide on your prices? – cost-plus, added value, etc.

Give an example of how you actually calculate your minimum prices – select a job you’ve done or a product you’ve created or purchased ….


20

Start-up Costs

Make a list of all the things you need to buy before you start and in order to start. Include all stationery, promotional material, equipment, rent bond, rent in advance, insurances etc. Also, list with a current book value anything that you already own that you are introducing into the business.

Total Start-up Costs(detailed list of start-up requirements) £

Equipment (inc computer and telecommunications):

Vehicle & associated costs:

Office & admin supplies:

Promotional material:

Insurances:

Rent, lease etc.:

Total Start-up Costs: £

Pre-owned Items (things being introduced into the business) £ - Current value

Total value of items being introduced: £


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Funding Requirements -

Make a list of all the things you need to buy before you start and in order to start. Include all stationery, promotional material, equipment, rent bond, rent in advance, insurances etc. Also, list with a current book value anything that you already own that you are introducing into the business.

Total Start-up CostsFrom previous table

£

Start-up Funding

Own Money Invested

Other funding:

Loan from ….

Grant from ….

Investment from other parties …

Total Funding Invested Into The Business? £


22

Personal Survival Budget

ESTIMATED EXPENDITURE £

Mortgage/rent

Council tax/water rates

Gas, electricity and oil

All personal and property insurance

Food, general housekeeping expenses

Clothing

Telephone

Hire charges (tv, video etc.)

Entertainment (meals, drinks, etc.)

Subscriptions to associations, journals, etc.

*Car tax and insurance * Only personal mileage

*Car running expenses portion, if same vehicle as

*Car service and maintenance used for the business

Children’s expenditure and presents

Savings plans

HP repayments

Household Maintenance

Holiday

Other (please state)

Class 2 NIC’s

EXPENDITURE in the year Sub-total (A)

ESTIMATED INCOME (OTHER THAN FROM THE BUSINESS)

Income from family/partner (total)

Child Benefit

Pensions

Other income (please state)

INCOME in the year Sub-total (B)

SURVIVAL INCOME NEEDED (estimated expenditure less estimated income – A-B)

Allowance for tax

Real Survival Budget


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Sales Forecast(double click the table below)

© Coventry and Warwickshire Reinvestment Trust 2013/14 24

Profit (Loss) Projection

Please note all figures below can be obtained from the cash flow. (double click the table below)


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£ £ £Sales RevenueLess Direct Costs:

Opening stockPlus stock purchasesLess closing stockEquals cost of goods soldEmployee costs (direct) 0Other direct costs 0

Total Direct CostsGross ProfitLess Overheads:

Employee costs (indirect)Premises costs(rent £6500, rates £744, utilities £720)RepairsGeneral administrative expenses

Motor expenses (incl. fuel)Travel and subsistenceAdvertising and promotionLegal and professional costsBank/finance chargesLoan interestOther expensesBad debtsDepreciation

Total OverheadsNet Trading Profit

(telephone £650, stationery £210, postage

£65, insurance £240: non-vehicle)

For period: _____


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Break-Even Calculation

Breakeven =

OverheadsGross Profit Margin %

And then:

Gross Profit Margin % =

Gross Profit x 100Sales Revenue

Gross Profit = Sales Revenue - Total Direct Costs

Your Break Even Calculation:

What volume (units) of sales do you need to make to make even?

What turnover figure will be break even point?

What month will you break even?


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Balance Sheet

(double click the table below)


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Cash Flow Forecast (double click the table below)


Financial Assumptions

Explain the financial assumptions you are making within the business, e.g. when will you be paid by your customers – 30, 60, 90 days. Will some customers take longer to pay than your terms state e.g. some public sector organisations pay in 90 days. When will you pay your suppliers? Are you asking for credit? Will you apply for a loan or overdraught to overcome dips in turnover? Also include any additional expenses e.g. new equipment, staff etc.My customers will pay:

I will pay my suppliers:

The business will need an injection of £….. in ……. (month). This will be funded by ….

The injection of funds is due to ….. (starting up, cashflow gaps, poor sales, extra/new equipment, taking on premises, employing staff or contractors)

Financial Targets

Targets for your businessWhat are your ideal sales targets that you would like to achieve?

What is your sales target?

£ _________________ By when _______________

How much overall profit to you want to make?

£ _________________ By when _______________


Contingency Plans

What will you do if things go wrong? Not enough sales, too many sales/orders, illness, equipment breakdown etc. What action can you take to avoid or limit the impact on the business?

What if … happens? Action to avoid/limit


Financial Analysis

For example: State the expected delay “the cash flow gap” between invoicing and receipt of payment; when you project to break-even; when you expect to employ staff, any funding or subsidy you expect to receive, etc.


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CWRT Business Plan Template

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