Business Plan Pack

THE PRINCES TRUST
BUSINESS PLAN PACK

THE BUSINESS PLAN
WORKBOOKFA SINGLES.indd 1 24/07/2012 19:52
WELCOME
Youve got a business idea. Youve decided to start
a business. You want to get going.
But theres 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 youre going to do it properly. Some parts will be easier to
complete than others.

Stick at it because its not the fnal document thats important,
its the process. Although you want to have a good plan when
youre done, an OK plan is better than no plan.
THE BUSINESS PLAN
The Princes Trust Business Plan Pack
The best business plans arent 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.

Its best to tackle a business plan
in small chunks. The Princes Trust
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.

The pack is also available electronically.
Some of the sections of The Business
Plan have tables to record the fnancial
parts of your business. The tables are
also available in MS Excel format and the
sums in these are automatic.
The Princes Trust Enterprise
programme
The Princes Trust has helped many
young people to complete their business
plans and start their own businesses. If
you are aged 1830 and unemployed or
working fewer than 16 hours per week,
then we might be able to help you. We
have offces throughout the UK and
in each, there is a team of Enterprise
programme 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
fnd out it is, the programme can offer
mentoring support and, if you really need
it, fnancial 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 cant guarantee that your business
will work 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 and
come and meet us.

CONTENTS
03
GETTING STARTED
Whose plan is this?
04
SECTION ONE
Executive summary
07
SECTION TWO
Owners background
09
SECTION THREE
Products and services
10
SECTION FOUR
The market
12
SECTION FIVE
Marketing strategy
13
SECTION SIX
Market research
14
SECTION SEVEN
Competitor analysis
17
SECTION EIGHT
Operations and logistics
20
SECTION NINE
Costs and pricing strategy
21
SECTION TEN
Financial forecasts
25
SECTION ELEVEN
Back up plan
02

GETTING STARTED
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

Home email address
WHOSE PLAN IS THIS?
03
GETTING STARTED
SECTION ONE
EXECUTIVE SUMMARY
1.1 Business summary:
1.2 Business aims:
1.3 Financial summary:
04
ELEVATOR PITCH
05
SECTION ONE
1.4 Your business name:
1.5 Strapline:
1.6 Elevator pitch:
SECTION ONE
06
SECTION TWO
SECTION TWO
2.1 Why do you want to run your own business?

2.2 Previous work experience:
2.3 Qualifcations and education:
OWNERS BACKGROUND
07
SECTION TWO
2.4 Training:
2.5 Details of future training courses you want to complete:
2.6 Hobbies and interests:
2.7 Additional information:
08
SECTION THREE
SECTION THREE
3.1 What are you going to sell?
a product a service 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:
PRODUCTS AND SERVICES
09
SECTION FOUR
SECTION FOUR
4.1 Are your customers:
individuals businesses 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?
THE MARKET
10
SECTION FOUR
4.6 Have you sold products/services to customers already?
Yes
No

If you answered yes, give details:
4.7 Have you got customers waiting to buy your product/service?
Yes
No

If you answered yes, give details:
11
SECTION FIVE
SECTION FIVE
MARKET RESEARCH
12
5.1 Key fndings from desk research:
5.2 Key fndings from feld research customer questionnaires:
5.3 Key fndings from feld research test trading:
SECTION SIX
SECTION SIX
MARKETING STRATEGY
13
What are you going to do? Why have you chosen this marketing method? How much will it cost?
TOTAL COST
SECTION SEVEN
SECTION SEVEN
COMPETITOR ANALYSIS
7.1 Table of competitors

14
N
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,

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b
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s
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SECTION SEVEN
7.1 Table of competitors continued...
15
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P
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SECTION SEVEN
7.2 SWOT analysis 7.3 Unique Selling Point (USP)
16
S
t
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W
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S
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P
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(
U
S
P
)
SECTION EIGHT
SECTION EIGHT
8.1 Production:
8.2 Delivery:
8.3 Payment methods and terms:
8.4 Suppliers:
Name and location Items required and prices Payment arrangements Reasons for choosing
of supplier
OPERATIONS AND LOGISTICS
17
SECTION EIGHT
8.5 Premises:
8.6 Equipment:
If being bought
Item Already New or Purchased Price
required owned? second hand? from
18
SECTION EIGHT
8.7 Transport:
8.8 Legal requirements:
8.9 Insurance:
8.10 Management and staff:
19

P
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/
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n
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A

N
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B

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(
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G

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m
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(
%
)
H

M
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k

u
p

(
%
)
SECTION NINE
SECTION NINE
COSTS AND PRICING STRATEGY
20
10.1 Sales and costs forecast

M
o
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t
h

A

M
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n
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e

S
a
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f
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B

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C

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E

A
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(
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.

S
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t
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)
SECTION TEN
SECTION TEN
FINANCIAL FORECASTS
21
1
2
3
4
5
6
7
8
9
1
0
1
1
1
2
T
o
t
a
l
SECTION TEN
10.2 Personal survival budget

Section Monthly cost ()
A Mortgage/rent
Estimated costs
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

Childrens expenditure and presents

Credit card, loan and other personal debt repayments

National Insurance

Other
B Total costs ()
C Income from family/partner
Estimated income
Part-time job

Working tax credit

Child benefts

Other benefts

Other
D Total income ()
E Total survival income required ()

22
PERSONAL SURVIVAL BUDGET
10.3 Cashfow forecast

SECTION TEN

M
o
n
t
h

A

M
o
n
t
h

n
a
m
e

M
o
n
e
y

i
n

(
)

B

F
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d
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g

f
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o
m

T
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P
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T
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F
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f
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O
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f
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O
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T
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m
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(
)

M
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(
)
D

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T
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d
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a
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E

T
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m
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y

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(
)
F

B
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(
)

O
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b
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C
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b
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23
2
3
4
5
6
7
8
9
1
0
1
1
1
2
T
o
t
a
l
P
r
e
-
s
t
a
r
t
1
SECTION TEN
10.4 Costs table

Cost item What is included and how you worked it out Total cost
24
SECTION ELEVEN
SECTION ELEVEN
11.1 Short-term plan:
11.2 Long-term plan:
11.3 Plan B:
11.4 Plan B continued...
BACK-UP PLAN
25
princes-trust.org.uk
Or call 0800 842 842
DSN1763 The Princes Trust 2012 all rights reserved. The Princes Trust is a registered charity, incorporated by Royal Charter, in England and Wales (1079675) and Scotland (SC041198).
Registered Office: 18 Park Square East, London NW1 4LH.
For more information on The Princes Trust, go to:

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THE PRINCES TRUST

BUSINESS PLAN PACK

WORKBOOKFA SINGLES.indd 3 24/07/2012 19:52

10.2 Personal survival budget

10.4 Costs table

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