Writing a Business Plan

theGrinch

Can someone suggest a user friendly template and guidance notes for writing a business plan?

I have had a look at Natwest and the Price's Trust thus far, but wondered others can be recommended

paddyrg

A quick Google search for sample business plans brought up http://www.bplans.co.uk/sample_business_plans.cfm

Perhaps the information is out there if you look for it?

theGrinch

paddyrg wrote: »

A quick Google search for sample business plans brought up http://www.bplans.co.uk/sample_business_plans.cfm

Perhaps the information is out there if you look for it?

seen that and pretty much everything on first 2 pages of google

its "premium" but few examples and very americanised so you are buying blind.

why buy if there is a chance something is out there free?

thanks anyway for replying

Suarez

theGrinch wrote: »

seen that and pretty much everything on first 2 pages of google

its "premium" but few examples and very americanised so you are buying blind.

why buy if there is a chance something is out there free?

thanks anyway for replying

I think the idea of a template is to assist you with the basis of a business plan. Are you expecting something where you can just change the business name on the plan because that doesn't exist.

paddyrg

I had a look at that site, and found it had several examples of layouts and boilerplate blurb - enough to show the kinds of things you need (eg personnel plans, projected profits, understanding of cost and profit centres, your products and market research, etc). I imagine their tool makes it easier to fill in the boxes, but it's the information, not the layout, that means anything. Those samples can help you understand the information you'll need to show, however you present it

Remember, a business plan is a document to show you've thought everything through, done the sums, and it looks viable. It's purpose of to show lenders and investors that you've done the work, not just thought 'I like horses, I'll open a horse walking business'

theGrinch

Suarez wrote: »

I think the idea of a template is to assist you with the basis of a business plan. Are you expecting something where you can just change the business name on the plan because that doesn't exist.

No. Thats unrealistic.

Looking for questions to be asking and guidance notes as I am writing each section. I was surprised at how basic the Natwest one was.

I did a biz plan from them about 25-years ago and it was much more thorough than the online they now have.

Wondering if someone had one they recommended as helpful.

theGrinch

paddyrg wrote: »

'I like horses, I'll open a horse walking business'

thats not a bad idea

Percy1983

Why do you want/need a business plan?

I ask as it can be customised for you target (ie to get funding).

If you are a sole trader you many not need one, I have never needed one and didn't need to write down the contents of my plan at any point, I just went ahead and did it.

theGrinch

Percy1983 wrote: »

Why do you want/need a business plan?

I ask as it can be customised for you target (ie to get funding).

If you are a sole trader you many not need one, I have never needed one and didn't need to write down the contents of my plan at any point, I just went ahead and did it.

1. useful instrument to think about different aspects of the business. its a good discipline - though I am loathe to write it.

2. lenders

capeverde

business plans per se are a total waste of time. You simply need to do the maths to make sure the numbers work. Predictions are purely speculative and whilst looking good on paper, dont actually do anything. It is true, if you are seeking funding your bank will ask you for one, but this is only because its what they have always done. In reality they wont lend a young business a penny without security, for which case you dont need a plan. With an established business you have your accounts to show them so they dont need your guesswork then either.

colino

Business Plan.
1. Executive Summary, an engaging literal story to capture the investor. So important in drawing together who you are, what you will do, why you think it will be profitable, you have access to an appropriate base and how you will do it, that you write it last and unless it is a multi-million pound idea, takes no more than two sides of A4.
2. The Management Team. Explain all of the roles required (not who you have) to make a profitable enterprise and how they will work. Go on to say which of these people you have, and how you will secure the rest. This is, despite what your accountant will tell you, is the most important element. A great management team can make a mediocre business proposition brilliant, not alas, the other way round.
3. The Idea! Every important facet of your business product, process or service. Explain how it is scalable and will continue to develop and isn't a one trick pony.
4. Marketing. Explain what opportunity exists in the market today and for the future and how you will exploit it. Please note, for all the hot air spouted, financiers would rather see 100 bricks and mortar, "me too" type businesses than one innovative new product/process/service.
5. Resources (Financials). Everything you need to establish and grow the business. At the very least, 3 year CFF, P&L and Balance Sheets. Do sensitivity analysis too. Too much unexpected, unplanned business can harm a business as much as too little.
Appendices. Use them to add the detail not required in the sections, it proves you have considered them but don't spoil the read of the BP with reams of detail in the sections.
Plenty of templates around and those reading the BP will recognise the styles and, like the readers of a newspaper, will focus on their own specialism and tear apart that section.
Always good to have a BP for any size of venture, either from the doodles of a one-man band to the growth strategy document of a growing corporation. Better to make mistakes on paper than with money.
If you need a BP, do one and do it well and review it regularly, make sure you know the difference between a BP and corporate time filling.