Posts Tagged ‘Business Address’

What is a Business Plan?

A business plan is basically a blue print to success. It sets out the parameters of how the business will operate, who the key players are, the plan going forward and any other relevant information that the author deems necessary should be included.

Why do I need a Business Plan?

You need a Business Plan for a number of reasons. First and foremost it is will focus your mind on where you are going or where you intend to go. It will dictate the speed of growth and will also allow your staff and other members of your team to share the vision.

Secondly, a Business Plan will be required if you intend to raise finance. If you intend obtaining a Business Loan or finance through other funding streams then again you will need a Business Plan. One thing is for certain, it is imperative that you construct a plan and amend/update it regularly.

Does the Business Plan change?

Yes it does. As your Business grows and changes, so should your Business Plan. It is wrong to assume that a Business Plan, once created, is filed away in a draw for 12 months. It should be kept in an easily accessible place and be update on a regular basis – for this reason alone it will focus your mind on where you are going.

What should the Business Plan contain?

This will depend on your own requirements but let’s take a look at some basic components:

SECTION 1 – Principle Business Details and Activities.

1. NAME OF BUSINESS

The name of your Business goes here.

2. BUSINESS ADDRESS

Company address goes here.

3. BUSINESS TELEPHONE CONTACTS

Your business telephone contacts go here.

4. DATE BUSINESS COMMENCED

This is the date that your business started or was registered with Companies house.

5. LEGAL STATUS

Whether you are a sole trader or a Limited company.

6. PRINCIPAL ACTIVITIES

Describe your main business activities. For example:

The development and creation of jewellery which is then sold via the internet worldwide.

SECTION 2 – Your key Business Objectives

SHORT TERM BUSINESS OBJECTIVES

Here you should include your short term vision. An example of this would be as follows:

To develop a sustainable business through the development of excellent products and customer service. We aim to develop 30 products within the first 12 months of trading, and achieve a turnover of £50,000.

MEDIUM TERM BUSINESS OBJECTIVES

A medium term business objective should be 3 to 5 years maximum. Include here where you want to be by this time and how you plan to get there. For example:

We aim to have created 100 products by 2008. The majority of these will be created by staff that will be employed as a result of the short term aim achievement.

Our turnover by this date will be £250,000 with a profit margin of 35%. Our sales will be predominantly achieved through internet advertising although we expect during this period to trial other methods such as National newspaper advertising.

LONG TERM BUSINESS OBJECTIVE

The long term business aim should be your ultimate goal. This can be any length of time from 5 years to 15 years. An example of this would be:

To have 50 different retail outlets strategically placed around the UK in areas of high demand. The company aims to exceed an annual turnover of £2,000,000 with a profit margin of 35%. The company will still continue to trade via the internet and it is expected that this will account for 40% of our business.

SECTION 3 – Key personnel

NAME AND POSITION

Insert name and position. Example:

Richard McMunn – Business Development Director

DOB

Insert date of birth

STATUS

Business Development Director and shareholder.

EXPERIENCE AND KNOWLEDGE OF THE INDUSTRY

Insert any experience and knowledge of the industry.

PREVIOUS EMPLOYMENT

Insert previous employment here.

QUALIFICATIONS

Insert qualifications here.

NAME

Repeat the above for all key personnel.

SECTION 4 – Premise details

In this section, indicate where the business is registered and where the business operates out of.

SECTION 5 – Equipment

Include all equipment that is owned by the company. Examples of these would be:

- Computers including software and hardware
- Vehicles
- Manufacturing equipment etc

SECTION 6 – Products and services

Indicate here what services and products are offered by the company.

SECTION 7 – Advertising

Here, include details of how the company advertises its products. This may either be in the form of internet advertising (Google, Yahoo or otherwise), Newspaper advertising (either National or local), other media avenues such as Admedia or any other form of advertising.

SECTION 8 – New products and services

Include here all of your predicted new products and services that will go on sale within the next 12 months.

SECTION 9 – Pricing

- How do you price your products?
- What is the profit margin of each product?

Include a breakdown of how much each product is on sale for and how much that product costs to produce.

SECTION 10 – Customers

What is your target audience and how do you know this? (i.e. ages 16 – 30). How to you reach your customers? How many visits does your website get each week?

SECTION 11 – Business strengths

Include here all of your business strengths.

SECTION 12 – Areas for Improvement

Here, include all of the areas you believe you can improve on. A business that has no areas to improve on is not telling the truth!

Be honest and look critically for ways in which you can improve or develop.

SECTION 13 – Business competition

Who are your major competitors? How do you monitor your performance against theirs? What are they doing that’s different or better than you?

SECTION 14 – Market predictions

How do you predict your market and adapt to the changing conditions? For example, during Christmas time sales may increase depending on the type of product you are selling or the service you provide. January through to April maybe slow in terms of sales due to the fact that people are less likely to spend after the expensive Christmas period.

Think about your business and how the market will vary from month to month. It is essential that you begin to track your daily sales/turnover right from the word go. After a year or two of trading, you will be able to predict your sales and adapt accordingly.

SECTION 15 – Sales and Promotions

What are your predicted sales and the reason why? Are you planning on running any promotions throughout the year?

SECTION 16 – Financial Information

How long have you been trading and what is your monthly/annual turnover?

How much have you spent on starting up your business? How did you finance this initial investment?

What is your predicted turnover for the next 12 months and why?

SECTION 17 – Business asset statement

What are the financial assets of the business including stock.

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Author: Richard McMunn
Article Source: EzineArticles.com
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There are many ways in which business owners combine having fun and running a business, and it can seem to many that bar owners have the best of both worlds, with both a lucrative business and a great place to relax and have fun.

The reality is not easy, and it can be difficult to start a new bar or night club. In order to get that new business off the ground, it is important to first create a winning bar business plan.

Using A Business Plan To Help Your Bar Business Get Off Of The Ground

Without such a bar business plan it can be nearly impossible for the bar owner to attract the investments that are needed to get the new business off the ground.

Starting a new bar or night club can be quite expensive with equipment to buy, space to rent, employees to hire and licenses to acquire.

Creating a bar business plan will help the bar owner gather the capital needed to get the business off to a great start.

Addressing Issues That Are Specific To The Bar Industry

The bar business plan should include all the basic information found in other types of business plans, including the name of the business, the address, the names of the owners, etc.

In addition, however, it is important for the bar business plan to address some issues specific to the bar business.

Some of these issues include such things as licensing requirements and licensing costs.

Bars must be licensed to serve alcohol, and it is important for the bar business plan to provide details on the costs of these licenses, the period for renewal, and the risks to the business if the licenses are not renewed on time.

Hiring Qualified Employees

It is also important for the bar business plan to address the relative ease or difficulty of hiring staff for the bar in the local economy.

In some states there may be additional age requirements imposed on bar and restaurant workers.

It is important for the bar business plan to address any special rules which would impede the hiring of qualified staff.

How Will You Market Your Bar Business Once It Is Opened?

No new bar can survive without a well thought out marketing plan, and it is important for the bar business plan to address how the bar will be marketed once it opens its doors.

In many cases it will be helpful for the bar owner to attach copies of proposed ads to the bar business plan, along with perhaps a sample food and drink menu.

These additional items can make the bar business plan more useful to lenders, investors and potential business partners.

Shaunta Pleasant is a professional web writer and editor on business plan topics. Visit my site to learn more about writing a business plan at http://www.business-plan-made-easy.com/bar-business-plan.html To download a copy of Business Plan Work Shop at http://www.business-plan-made-easy.com/business-plan-work-shop.html

Author: Shaunta Pleasant
Article Source: EzineArticles.com
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There are many ways for those in the construction industry to strike out on their own, but creating a residential or commercial construction plan can be one of the most lucrative.

Of course before you can start that great new home building business it is important to first build a quality construction business plan.

It is important to give as much care and consideration to the creation of the construction business plan as you would to building that great new home or office building.

Make Sure Your Construction Business Plan Is Polished And Complete

After all, it is the construction business plan that will allow you to borrow the money you need to hire workers, set up an office, buy vehicles and construction equipment and acquire all the many things it will take to get that great new business off the ground.

In fact the first document most potential lenders, investors and business partners will want to see will be that construction business plan. It is important, therefore, that your construction business plan be polished, professional, complete and accurate.

Understanding The Specific Construction Industry Issues That Should Be Addressed

There are a number of issues specific to the construction industry that the construction business plan should address. One of these issues is the demand for high skilled construction workers.

In some areas of the country these workers are readily available, while in other parts of the nation workers are scarce and wages are very high.

It is important for the construction business plan to address the local availability of qualified workers, and to lay out a detailed plan for attracting and retaining those workers throughout the season.

Detail The Type Of Construction Business You Will Start

It is also important for the construction business plan to detail the kinds of construction in which the proposed company will specialize. Some builders will specialize in commercial real estate, while others will focus on the residential market.

Within the residential building marketplace, some builders will look to the luxury home market, while others will focus on building more affordable homes.

It is important for the construction business plan to address these differences and explain which segment or segments of the market the company will have as its focus.

Detailing Your Cost Saving Strategies During Slow Downs

It is important as well for the construction business plan to detail the cost saving strategies the company will use in the event of a slowdown in the market.

These market slowdowns are inevitable, and it is important for any construction business plan to include contingency plans which will be used to ride out such bumps in the road.

Having a solid construction business plan is essential to starting and sustaining any construction business, and this kind of planning will play a critical role.

Shaunta Pleasant is a professional web writer and editor on business plan topics. Visit my site to learn more about writing a business plan at http://www.business-plan-made-easy.com/construction-business-plan.html To download a copy of Business Plan Work Shop at http://www.business-plan-made-easy.com/business-plan-work-shop.html

Author: Shaunta Pleasant
Article Source: EzineArticles.com
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Business plan outlines are all different. The one common thread is that all business plan outlines help the writer answer the five W questions: who, what, when, where, why.

If any of you ever worked in journalism or as reporters, what you want to do when you investigate anything is answer the 5 W’s. A business plan outline is a concrete method for investigating a business idea so answering the 5 W’s makes sense.

Business Plan Outline of the 5 W’s

Who are you? Your business plan outline should detail your certifications, industry experience, and credentials. List the business credential that you’ve already received or those that you’re planning on getting in the early stages. This part of the business plan outline also lists the staff you project needing and what their qualifications will be.

What do you plan on sell? In your business plan outline you need to include a discussion of what it is you are selling. Are you selling products, services or both? Once you know what you are selling you then need to discuss the revenue and profit associated with your products and/or services.

This part of the business plan outline also includes your preliminary sales and marketing plan. What will you be doing to gain your clients and how much time and money will you spend doing so?

When did you launch or when do you plan on launching? This information is critical to outside investors and it will also help to keep you on track.

Where are you located? Here you will indicate the types of facilities needed to run your business. Will you work out of your home or rent office space?

Why is your approach unique? This is a critical question that your business plan outline must address. You need to explain your number one differentiator. Somewhere in your business plan outline you must make space for detailing the proposition that sets you apart from everyone else in the market.

The Bottom Line On Business Plan Outlines

Business plan outlines help you structure your answers to the most important business planning questions. These questions can be summarized as the 5 W’s. By answering these questions, your business plan outline will lead you to discover and detail the exact “how” of your overall business operations.

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Author: Joshua Feinberg
Article Source: EzineArticles.com
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