Business Plans

Aims:

• To be aware of Business Plans, their purpose and contents.

• To broaden your awareness of real business opportunities.

What is a business plan?

Why do you need a business plan?• Basic business planning is essential:

– To set the objectives for the business– To ensure the business can be viable– To raise finance (if required) from third

parties

Who would look at the business plan?

Which stakeholders would be interested?

Owner(s)

Bank

Suppliers

Creditors

What is in a Business Plan?

ICT task…

Log onto this website…

• http://www.bplans.co.uk/Sample_Business_Plans/all_plans.cfm

• This website link has a range of completed business plans for you to look at.

• Select a business plan and complete the following questions:

Underscores used here!

Collect your worksheet to complete the task

Your task….General Questions1. What is the name of business on the business plan?2. What product/services do they intend to offer?3. What are the company objectives?4. What are their ‘key’ to success points?5. What type of ownership do they propose to start under?6. What is the market segmentation that they have identified? 7. Have they identified their competitive edge issues?8. What are the total requirements for the start up costs?9. What are the personnel costs/wages 10.What do they expect their monthly breakeven revenue and

units?11.What is the projected annual NET profit for Year 1, 2 and

3?

Watch a DVD….

• Working Lunch – Best of Lunch Series 1-10

• 9_ Making a Business Plan

Further Questions….

1. List the key areas of a business plan – use the sub heading of non-financial items and financial items. (2 marks)

2. Identify three different stakeholders that might be interested in the business plan. Explain why they might be interested. (9 marks, C = 3 An = 6)

3. Where might an entrepreneur gather the information required for a business plans? (4 marks)

• Total 15 marks

Plenary

• What are company objectives?

• What is market segmentation?

• What were the start up costs for your business plan?

• What were their break-even sales value – how realistic is this for the business?

Homework…

• Complete the 15 mark questions on the worksheet….