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TYPICAL SECTIONS OF A BUSINESS PLAN

By Dennis Lee,2014-04-11 13:44
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Business Plan. Guidelines. European Structural Funds. Your Plan ? Your Future. City and County Enterprise Boards are funded by the Irish Government and

Westmeath County Enterprise Board

    Ltd

    Business Plan

    Guidelines

    City and County Enterprise Boards are funded by the Irish Government and part-funded by the European Union under the National Development Plan 2000-2006

     European Structural Funds Your Plan Your Future

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TYPICAL SECTIONS OF A BUSINESS PLAN TYPICAL SECTIONS OF A BUSINESS PLAN

1. Executive Summary

    2. Contents page

    3. Introduction

    4. The Product or Service

    5. Business Requirements

    6. Management Team / Personal

    7. The Market

    8. Financial Information

    9. Future Development

    10. Appendices

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     GUIDELINE DETAILS TO BE INCLUDED IN EACH GUIDELINE DETAILS TO BE INCLUDED IN EACH

    SECTION SECTION

    1. EXECUTIVE SUMMARY

a) Give a brief summary of what the business does

    b) State how long you are in business

    c) State who the owners and key management are

    d) State the business objectives.

    2. CONTENTS PAGE

List sections included and corresponding page numbers

    3. INTRODUCTION / BACKGROUND

Give a brief history of the business including when the business

    commenced, what legal structure the business operates under, the

    business activities undertaken and the management structure of the

    business.

    4. THE PRODUCT OR SERVICE

    a) List the range of products/services you currently provide b) List new products or services you wish to provide c) Describe the benefits of your products/services

    d) Describe briefly how these products and /or services are produced

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    5. BUSINESS REQUIREMENTS

    In this section, estimate the costs required to expand / start-up your

    business. Please outline in detail what machinery,equipment,building or

    adaptation costs are required to meet your needs.

    Requirements for expansion or start up Requirements for expansion or start up

Description Estimated Cost Description Estimated Cost

    Equipment Equipment

    Machinery Machinery

    Building Costs Building Costs

    Total Total

    6. MANAGEMENT TEAM / PERSONNEL

    a) State who the key people in the business team are

    b) List their relevant qualifications and work experience

    c) State current number of employees and proposed number of

    employees

    Detailed curriculum vitaes could be submitted in the appendices if

    management feel that they are relevant.

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7. MARKETING

MARKET RESEARCH

a) What evidence do you have that there is a need for your product or

    service? Have you spoken to any future customers? What was there

    reaction? Have you obtained any forward orders?

    b) Who are your current /potential customers?

    c) Who are your competitors?

    d) Have you any advantages over your competitors?

    e) Is your product or service a repeat item or will sales be a once off?

TARGET MARKET

Organisational target markets can be classified by type, size and number

    of employees. Similarly, consumer markets can be classified by

    individuals: Age profile, gender, marital status, hobbies, children,

    lifesyle etc.

    SALES PLAN

Expected level of sales per month could be highlighted in this section.

PRICING

a) What price will you charge? Why?

    b) What are your terms of payment? (E.g. cash up front, 30 days credit.)

    PROMOTION

a) What are your customer’s most interested in, e.g. low price, high

    quality, reliable service… What buying motives are you going to

    emphasise and why?

    b) How will you promote your product or service, e.g. advertising,

    personal selling, direct mail etc? Details should be outlined.

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     PLACE

    Describe your choice of business location. How will you distribute your product or service to customers? Will your current and /or potential customers have easy access to your product/service?

Outline details of your distribution plan.

8. FINANCIAL INFORMATION

     Include the following:

    a) Cash flow forecasts (See sample overleaf) b) List potential sources of finance (See sample overleaf) c) Budgeted profit and loss accounts (See sample)

    It is important to write down the assumptions upon which the financial projections are calculated. Be as realistic as possible and not too optimistic.

Existing business should enclose copies of three years accounts if

    available.

9. FUTURE DEVELOPMENT

    a) Do you expect your business to change over the next three years? e.g.

    as a result of future legislation or market trends.

    b) Describe future business potential, e.g. will you take on a number of

    employees or stay on your own, business expansion plans,export

    plans etc.

10. APPENDICES

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The appendices may contain back-up information e.g. brochures of the

business, curriculum vitaes, etc)

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Month123456789101112Total

    Cash InflowsCash Sales

    Grants

    VAT refunds

    Loans

    A Total InflowsCash OutflowsCash purchases

    Credit purchasesESB

    Mobile

    Land line

    Bank charges

    Office stationeryAdvertising

    Insurances

    Petrol

    Car maintenanceMotor tax

    Wages

    PAYE/PRSI

    Loan repaymentsPersonal drawingsVAT payments

    Accountant /solicitorRent & rates

    Cleaning/tea sundryB Total Cash OutA-B=C Net OutflowsD Opening balanceD+C= Closing balance

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