The Basic Business Plan

For that business youve always wanted to run but never knew how!

Copyright Daniel Fry, 2014 The Basic Business Plan TutorialThe Basic Business PlanYou want to be your own boss. Do it.

Youve always wanted to take that brilliant idea youve been sitting on and become the next Richard Branson. The next Steve Jobs. You can be.

Or even just happy that you finally get to do that thing that you always wanted to do but never got around to it. Its time.

Act on that passion, that skill and make some money at the same time? Thats the dream.

I have built The Basic Business Plan Tutorial for you.Its written for the everyday person who wants to start their first business, or maybe even their second!Its a guide that can help you move from great idea through to a business plan.From there, you can decide to take that first step towards your very own business and endless possibilities for the future.

Thats a great ideaYouve probably said thats a great idea or Id love to do that many times before in your life. Well the time has come to pick one of those ideas. Go for it. Pick the best one. The one that you really loved.

Run it past your friends, family, colleagues and anyone who will give you HONEST feedback on the ideaTake note of all the replies (positive/indifferent/negative/ideas) but dont let any negative feedback deter you.. They might just be jealous youre doing something they never did!Keep the idea for the business simple and succinct. If you cant write it in one or two lines, its too complex at this stage.

eg I want to run a coffee and cake shop with a lounge area for reading books, newspapers and magazines

Now write YOUR idea down below:

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Revise it until you are happy that it is simple, punchy and says exactly what your idea for your business represents.The Personal ObjectiveSo youve got the idea and some feedback. Lets move onto the why..There are many reasons why someone wants to start a business. Some through passion, some financial, some to fill a market need or gap. There is no right/wrong/better/worse, as long as its a genuine reason that will drive you to succeed.Why do you want to make your idea into a business?eg I want to bring my passion for baking and reading into my own retail business.

Write YOUR personal objective below:

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Revise it until it says exactly why you want to turn this great idea into a business. Make it speak to you.

The Business ObjectiveIdea. Tick. Motivation. Tick. Its time to get down to business.What do you want your business to achieve?Is it a personal goal? A financial goal? A market goal?This is different from your personal objective. eg I want to be able to make an income of $50,000 per year from the business.or I want to have my business known as the best coffee and cake shop in the local area

Write YOUR business objective below:

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Revise it until it says exactly why you want to get out of your business.What Am I Selling?Now lets get down to the core of the matter.A business provides something to a customer- usually a product or a service.List the product or products that you want to provide your customers:

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Failing to Plan is Planning to FailSo I have to do a business plan right? RIGHT!But what does a good business plan need in it?Firstly lets look at some of the basic aspects of any business we might need to consider in the plan:

Legal licences, permits, business names, business/company numbersPlace of business shop front, offices, warehouses, factories, cars, trucks, public areas, housesStaff how many people are needed and in what roles?Training and development of staff who has the expertise to do it?Supply chain where is the product coming from and how will it get to where it needs to beMarketing getting people to know of your business, your brands/products and hopefully buying your goods/services?Finance how will the business be funded, will it make money, is it viable, what do the future trends look like for the business/industry?IT/Technology what technology is needed to run the business well? eg Point of Sale systems, databases, accounting software, devices, social media options.

The Plan: Legally SpeakingBefore starting and whilst running any business, we need to make sure we are compliant to the law and local regulations. It will avoid issues, delays, impacts and inevitably large costs if something isnt legitimate or legal.

Do some research on your chosen business type. The internet is a goldmine of information on what your business may need in terms of licensing, permits, certification, registrations and laws around your local area.Similar business groups and industries may have newsletters, discussion boards online become part of the network so you can absorb relevant informationCheck with local councils, state and federal legislation around what you need to be aware of to operate your type of business.Local business advisory centres, Chambers of Commerce, Small Business Enterprise Centres and recognised industry bodies will all be able to offer some form of information to help you plan.

Some example of why you may need to hire lawyers: Settlement after purchasing an existing businessNegotiations for a lease on property, land, contracts for supply, drawing up employment contracts and Advice on legal requirements for your industry and type of business.

The Plan: Legally SpeakingList below all the potential requirements for your business, you, your staff and your products and services:eg Licenses, Registrations, Accreditations, Certification, Patents, Business Name, Business/Company Number.1) 6)2)7)3)8)4)9)5)10)

List below as many local industry and business bodies that can assist you with your plans and setting up of your business:1)6)2)7)3)8)4)9)5)10)

The Plan: The POBThe POB. Not the pub. POB = Place of Business.Both POBs and pubs are places of some brilliant idea creation and fun but one should make you money, the other usually costs you money.

Your Place of Business (POB) is where you will be doing work.An office to house you and your staff?A factory to create your products?A warehouse to store all your goods?Will you have people out on the road in cars, trucks and vans?Will you work outdoors?Will you be working from home or in other peoples houses and businesses?

All of these listed above are examples of POBs. The key piece around any POB is that it is a safe working environment for you and your staff. Occupational Health and Safety is a key requirement for any business owner to ensure they minimise or eliminate safety risks and issues in any POB.The Plan: The POBList all the places where your staff will be working:1)6)2)7)3)8)4)9)5)10)EG1) one retail outlet in a local shopping centre for all staff2) home office for myself when completing book work and admin

Now list some OH&S implications for these POBs1)6)2)7)3)8)4)9)5)10)EG1) Food prep & safety, burns, trip/spill hazards, chemicals in retail outlet2) Trip hazards, ergonomics of chair / laptop set up in officeThe Plan: The POBNow where will your POB be located?Work out what assets and tools you think you will you need for all your POBs:eg Home office:Desk, chair, laptop, filing cabinets, shelving, internet connection, phone/fax, printer/scanner/copier, stationary, laminator, binder, guillotine, computer server.

For each of your POBs- make a list below of everything you will need (as best you can!) and anything you many want in each to operate your business each day- print out as many of these sheets as needed.Name of Place of Business:________________________________________________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________ ____________

The Plan: The PeoplePeople will forget what you said. People will forget what you did. But they will never forget how you made them feel Maya Angelou quote.

People are the life blood of any business. Without people to bring in their skills, their knowledge, their passion or at the very least their willingness, you dont have a business, you have an idea.

Employing the right staff can be hard.Training them to perform at their best day in and day out can be hard.Keeping them motivated, happy and willing to work well can be hard.Creating and maintaining a fun and exciting workplace with a good team culture is worth the time and effort.If your people love their workplace, they will ensure the customers are happy and the dollars will roll in.Have fun- and if you need some inspiration, look up the FISH! philosophy borne out of the Pike Place Fish Markets in Seattle, USA.

The Plan: The PeopleKey pieces to think about when hiring staff for your business:

How many people are needed to run the business day to day?Will they be full time, part time or casual? Will you need to pay superannuation?What will you pay them per hour? Per week? Per month? It will have a huge impact on your profit statement and their motivation its a balance!When will sales periods be highest and lowest- lunch times, night times, weekends, certain days, will it be seasonal?What is the staffing impact of these peaks and troughs- can you afford to employ full time staff when there is nothing to do? Can you employ casual staff only for those periods? Who would fill that type of role?Will you need outside contractors to complete certain jobs in the business such as book keeping, accountants, financial advisors, lawyers, OH&S advisors, Human Resources consultants? What are the cost impacts of these experts.What are you capable of? What are your expertise? What time will you have available to dedicate to each role.-Is it better to do lots of tasks at an average level or a few tasks really well and delegate or outsource the rest?

The Plan: The PeopleWrite down the number of people you will need to open your business and the roles they will each take on.Then estimate the cost of those staff members on a yearly basis.eg 1) Owner/Manager/Cake Maker: Karen Smith $50,000 per annum2) 2IC/Waitress/Tills/Kitchen: Tina Johnson$40,000 per annum3) Casual Waitress (15 hours per week): TBC$15,000 per annum RoleName if knownAnnual cost________________ ________________ ________________________________ ________________ ________________________________ ________________ ________________________________ ________________ ________________________________ ________________ ________________________________ ________________ ________________________________ ________________ ________________________________ ________________ ________________________________ ________________ ________________Total annual salary cost: ________________The Plan: The PeopleNow you have your list of potential employees- lets look at roles in an organisational chart.Who will be in charge of what duties and who will manage/be responsible for each area of the business? Example below. Next slide fill in your own organisational chart from the staff members listed previously.

The Plan: The PeopleYour Business Organisational ChartThe Plan: If you dont have it, you cant sell it.Every business will require supply of something. From the tradesman fixing a light, to an accountant waiting on documents- every business requires an element of some sort of supply chain to maintain their business performance.

Supply chain and logistics is the part of your business that does all or some of the following:Grows / builds / creates your product/service or some of its elementsDelivers those products or elements to your business to the right specification, quantity and qualityCan deliver those products to your customers in a specified manner/timeframe

Considerations when planning for the supply chain side of your business:Where does it come from? What can stop the supply?Train derailments, truck driver strikes, power outages, short supply, shipyard and customs delays, factory issues, contractual/credit issues are all real hurdles to keep goods coming in on time.What is my plan B if any part of my supply is reduced or stopped?The Plan: If you dont have it, you cant sell it.For your business list down the goods/services/products that you will need to operate your business on a day to day basis:eg Cake supplies, refrigerated beverages, coffee, tea, sugar, milk, snacks, cleaning products, utensils, kitchenware, pots, pans._____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________ Where will you get them from? List your likely suppliers of the products above (you may not know yet but its to get you thinking)_____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________

Now list who and what is required to get your products to your customer:eg Suppliers goods. Kitchen. Fridges. Cake displays. Wait staff. Van for wholesale delivery._____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________ _____________

The Plan: Show Me The MoneyAny business will have start up costs, some require rather large amounts of capital to open and run whilst other businesses can be quite small to fund in comparison.

When planning for your business you will need to know how your business will be funded.Most businesses need a cash injection from the owner (equity) or financial help from a creditor- usually a bank.A creditor is someone or another business that you or your business owes money to.Its not always a bad thing to borrow money as it has many benefits for a business if used the correct way.Be sure that if you are going to borrow money you have means to pay it back in full and the repayments wont cripple you and your business.If you business does happen to close, you may be liable depending on the legal structure of the business.Always seek advice from a financial advisor when considering this sort of funding option.Banks will needs a business plan before financing a loan for a new business.

The Plan: Show Me The MoneyA business needs to be viable to stay open. Viable simply means, all the money coming in each day/week/month/year is more than all the outgoings or expenses including tax payable.

We need to have a fairly good idea of the following when starting and running a business:1) The variable and fixed costs of all parts of the business2) The likely number of sales each day/week/month/year3) The price of the goods or services you are offering

If we know what volume of products or services we are likely to sell and their price, we can then work out the likely business income (Turnover/revenue).If we know what the variable costs are for the same number of products or services sold then we can work out the profit per sale (Margin/Gross Profit)If we know what the fixed costs are we can take these off the Gross Profit totalThe rest of the money. In simple terms is yours to do what you want with!

The Plan: Show Me The MoneyHeres an example of the previous slide.I sell chocolate coated bananas out the front of my house each weekend for $5. Each banana costs me $1. The chocolate costs me $1 per banana.For the next two weekends Im going away so my neighbour will do the work for $50 per weekend. The bananas and chocolate are a variable cost.The neighbours wages are a fixed cost.Sales $ minus variable costs $ and fixed costs $ equals profit.

SALES FROM THE LAST TWO WEEKENDSWeekend 1Weekend 2Bananas sold =20Bananas sold =30Sales = 20x$5 =$100Sales = 30x$5=$150Variable cost = 20x$2 =$40Variable cost = 30x$2=$60Fixed cost = =$50Fixed cost = =$50Profit = $100-$90 =$10Profit = $150 - $110=$40

The Plan: Show Me The MoneyThe exercise on the previous page was the first (very basic) example of a Profit and Loss Sheet for a business. We will see more of these as we go.

But how do you make more profit?The simple answer for any business to make more profit:Increase revenue (sales growth)Decrease costs (improving efficiencies)Improve product mix (no sales growth required- just selling more of the higher profit products instead of the lower profit products)Innovate to improve formats and sizes of products ie multipacks

We will touch on forecasting sales, variable and fixed costs as well as profit a little later.This will be the first pressure test of whether your business will stand the test of time, or needs some tweaks to stay viable.

The Plan: Show Me The MoneyYour turn- what parts of your business will tie up your money before you even start to turn a profit?

Write down as many of the fixed and variable costs you can think of for your business:Eg Fixed: Rent / Full time staff salaries / bank loan paymentsVariable: Casual wages, cost of goods, power, tax, maintenance of equipment and buildings FIXED VARIABLE_________ _________ _________ _________ _________ __________________ _________ _________ _________ _________ __________________ _________ _________ _________ _________ __________________ _________ _________ _________ _________ __________________ _________ _________ _________ _________ __________________ _________ _________ _________ _________ _________

The Plan: Lets Get TechyNow we need to consider how our business will benefit from systems. In this particular part of the plan we will focus on technology rather than processes. That simply means what devices and tools will we need to make running your business better and hopefully easier. Some examples are:

Point of Sale- its usually a computer with a till attached in a retail outlet, but depending on the software it can also be your stock management tool to help with ordering stock as well as an accounting tool to streamline your bookwork. Mobile/smart phones, laptops, PDAs portable technology options for anyone who is not bound to a desk and needs mobility in their role. These should be for speed and accessibility to programs or the internet that make your business more effective or efficient.Websites and internal programs (eg databases)- Ill mention it here (as well as in the marketing section) as it directly relates to the technology available in your business. If you need/want a business website and programs that will have regular updating and changes to it you will need to have the skill set, employ a staff member who does have those skills or outsource the design and maintenance- all come at a cost of time or dollars to you and the business.

The Plan: Lets Get TechyList all the hardware you think you will require on the left hand column for your business to start up.List all the software you think you need on the right hand column to run your business.HARDWARE (physical tools)SOFTWARE (programs)Eg Retail shop computer Point of sale systemSmart phone for owner with internet Accounting software ________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________

The Plan: Why Your Business?Marketing is not just advertising. Marketing is everything about your business and product that has a touch point with another person or organisation.For purposes of this plan we will focus on the 4 Ps of marketingProduct, Price, Placement and PromotionThe four Ps are relevant both to your products and your business as a whole.Product is what you sell and do every day. It can be a tangible good or a service or a mix of the two. Product can be a cake, it can be a carpenters skill and time or a bank offering a loan of money.Pricing is what you charge for that good or service but has much more to it that just the price tag that the customer sees.Placement is where your business is located but more importantly where your products can be found and bought- ie one shop or a network of shops, on the shelves of a grocery chain, or a service available to a specific area.Promotion is about letting people know about your business, your product and the reason they want to buy your product (value proposition). This is where advertising would fit in.

The Plan: Why Your Business?Lets now define what your business products are:Write down a list of everything you will be selling. On the left hand side write down all the products and services that will have a price tag.Ignore the middle column of price- we will come back to this shortly.On the right hand side write down all the intangible things that your customers will be able to see, hear, smell, feel and touch that that dont directly pay for but impacts there product experience.PRODUCTSPRICEINTANGIBLESEg Chocolate cake $4.00/slice Taste, smell, shop dcor, atmosphere Newspapers $2.00/paper Comfort of lounge seats, noise, lighting Coffee and Tea $3.00/cup Taste, temperature, customer service ________________________ ____________ _______________________________________________________ ____________ _______________________________________________________ ____________ _______________________________________________________ ____________ _______________________________________________________ ____________ _______________________________________________________ ____________ _______________________________________________________ ____________ _______________________________

The Plan: Why Your Business?Pricing is arguably the most critical part of your business plan. Pricing has implications on how your customers view your products, how much profit you make and whether your products are seen as valuable.Pricing too high without customers seeing value can result in them not purchasing or not repurchasing your products. Pricing too low can imply low value or quality and has sever impacts on your business profitability and even cash flow.Do some research of similar businesses in your area. What do they charge and what can you offer that they dont? This will help you price correctly based on what you want to achieve.

Lets go back to the previous slide and add in your desired sale price for each of the products you wrote down.Consider how you will price them per unit- For example:1) Cake might be charged per slice2) Coffee is charged per cup3) A bank loan will have an interest rate added to the repayments4) A tradesman will generally charge per hour or per day and add on cost of materials also

The Plan: Why Your Business?Placement is all about where your business and your products will be seen.Do you want to sell all your goods in one shop?Do you want to wholesale your goods to other businesses? Which ones and why?Can you get a contract for a large chain to carry your products in many shops?Do you want them in niche stores in affluent suburbs to signal premium quality?Will you have an online presence through internet sites? Can you use your website to sell products, can you use eBay and similar sites successfully also?

All these questions will impact how your products are seen in the market and by how many people. The key is getting your products known by as many people as possible who are potential customers. Then the product, pricing and promotional effectiveness comes into play as to whether they buy your product.

If you are selling a service you need to consider the format of delivery to your targeted market. Will you advertise? How, where and when? Will it be cost effective?Do you have existing clients and networks to leverage? Will you be selling door to door or business to business?Where are the most likely customers and how will they know your business and products exist?

The Plan: Why Your Business?Promotion!!!!So youve got a product, youve priced it and have at least one place to sell it. Now its time to promote your business and your products but how?Here are some examples of promotional opportunities:Advertising local letter drops, radio, print and television campaignsSocial media leverage Facebook, Twitter, Pinterest, Instagram etc to drive awareness and interest in your business and products its FREE!!!Web presence- an effective website, search engine optimisation and links from associated businesses, organisations, associations will be beneficialSponsorship of local events, associations and community groups can help awarenessSignage is your business well signed, visible and accessible for your customers. Are there other signage opportunities in your targeted area ie sporting grounds, bus stops, advertising boards at shopping centres etcEmail, phone, social media access for your customers for feedback and contact, as well as avenues for you to contact them ie databases, loyalty programs, advertising and promotional opportunitiesIndustry networking Chamber of Commerce and Industry, expos, online groups and discussion boards, supplier nights, product launches, industry memberships can all help you spread the word and find contacts to help you along the way.

The Plan: Time is MoneyLets create a time line for the start up of the business.When do you want your business to open? Below is a example timeline, where you put your planned start date on the far right and todays date on the far left. Now put in some key benchmarks with target dates as a guide. The next page is blank so you can create your own timeline.

The Plan: Your Start Up TimelineJust like the example in the previous page put down the key hurdles to overcome to open the doors on your new business using the timeline below.

Basic Business ReportsThere are two key documents in any business that reports how the business is travelling.The Profit and Loss Statement (P&L)The Balance Sheet

The Profit and Loss Statement describes the profit result of a business for a given period based around all the income and expenses being tallied up with a positive result meaning profit and a negative result meaning a loss for that period.

The balance sheet describes the assets, liabilities and equity of the business. Ideally this is the total of all the cash, equipment and investments weighed up against all the money owed, outstanding bills and loans. The remaining balance is called equity.

The P&L StatementThe Profit and Loss Statement describes the profit result of a business for a given period based around all the income and expenses being tallied up with a positive result meaning profit and a negative result meaning a loss for that period.

Before we create our own P&L, look back over all the lists we have created so far. Put some estimated costs on each of the items listed. Well use this later.

Now lets divide those costs into two buckets- start up costs and ongoing costs.On the following blank page- take all the costs we have listed on previous pages and put them into the two columns. The next page is an example.First column is for start up costs- only put in those costs that will happen as a result of starting your business- ie equipment purchases, lawyers fees, bank fees from loan, logo design, website design.In the second column list all the costs that you have left over that will happen each day/week/year. Convert them to a yearly figure if possible.The Cost of Doing BusinessStart Up Costs (One Off Costs)Ongoing Costs (Yearly)EquipmentSalariesSystems- IT, Point of Sale etcUtility BillsToolsRentOffice suppliesCost of Supply ReplenishmentFit outs of POBsAdvertisingVehiclesMaintenance of EquipmentLegal CostsMaintenance of POBsBusiness LicensingTraining CostsInitial Stock and Goods Licences & RegistrationsMaintenance of VehiclesInsurance- there can be multiple!The Cost of Doing BusinessStart Up Costs (One Off Costs)Ongoing Costs (Yearly)Will I Make Money?Now for a the first basic test of your business idea. On the next page is a table to forecast your business viability for a year.

Take each product you will sell in your business and list it in the first column.Work out the price per unit that you will sell it at and put it in the second column.In the third column, work out the cost per unit it will take to make the product.In the fourth column, estimate how many sales of that product you will make in a year.

This process will work out our margin per unit on each product as well as the likely gross profit we will make from sales for a year.We just need to take the price per unit, subtract the cost per unit and multiply the answer by the number of times we think we will sell that over a year.Will I Make Money?ProductPrice per unitEst. cost per unitEst. yearly salesProfit per yeareg Choc cake$4.00 per slice$2.00 per slice2,400 slices$4,800eg Coffee$3.00 per cup$1.00 per cup15,000 cups$30,000Will I Make Money?Now we know what our estimated margin and yearly gross profit is on each product.Add up all of your products profit per year figures on the previous slide and write it down here: $__________________

But we have other costs than just the cost of supplies to make the products were selling that are mentioned on the previous page.Add up all the estimated costs of wages (p16) and the ongoing costs (p33 right hand column) and total them up for a year. Write that amount here: $___________________

Take the top figure on this page and subtract the bottom figure. Write the result here: $________________________

Is your answer a positive number or is it a negative number?If it is positive, your business plan has passed the first stage.If it is a negative number you will need to look at one or all of the following and make some changes: increase number of sales, reduce some costs in the business or change the price of each product.Try make some minor changes to your estimates to see if you can improve the estimated profit result.

The Balance SheetThe balance sheet describes the assets, liabilities and equity of the business. Ideally this is the total of all the cash, equipment and investments weighed up against all the money owed, outstanding bills and loans. The remaining balance is called equity.

A basic example of a Balance Sheet is below:

Assets LiabilitiesEquipment $1,000Bank Loan $2,000Bank Balance $2,000Debts Payable $1,000Term Deposit $5,000Credit Card Debt $2,000TOTAL ASSETS $8,000TOTAL LIABILITIES $5,000OWNERS EQUITY $3,000What Could Go Wrong?This page is all about a S.W.O.T. analysis. SWOT (pronounced swat!) stands for:Strengths, Weaknesses, Opportunities & Threats

It is a matrix that lets you consider the following points:

Strengths of the business- What will the business do really well, better than other businesses in the market. What will hang your hat on?Weaknesses of the business- What do you think will need to be worked at, or solutions found to improve a part of the business that can be better. For example sole traders only have limited time but try to do every role without expertise in all areas.Opportunities for the business- This part is where you think the business can develop, grow, prosper and reap the benefits from. It can be internal (capitalising on a business strength or developing a weakness) or external (looking at gaps in the market to offer products to or being better than a competitor).Threats to the business- Awareness of threats that can impact your business or in the worst case, cause business closure. If we know what they are, we can overcome them or prepare for them. Awareness is the first step!

What Could Go Wrong?Lets complete a SWOT analysis for your business idea. Write your thoughts below in each section.

Strengths:Baking skills- best cakes in areaOpportunities:Wholesale my cakes to other shopsWeaknesses:Expertise in recruiting and training staffThreats:Repayment of loans if sales estimates arent reached.Whats Next?Congratulations. You have taken the first step!!!If you have made it this far you have taken your great idea and turned it into a mini business plan.You have now got some basics thought out in each area of the business and are comfortable that you now know what you want to do.The financial parts are only basic and using estimates, but they look alright. I hope!

SO WHAT NEXT?Do more research. Cost out each part of your business. Make sure those estimates were fairly accurate.Who are your customers? Find out who you want to sell to and why. Then ask them what they want from your business and its products. Feedback is a goldmine.Who are your competitors? What do they do well? What is their pricing compared to yours?What is your Unique Selling Proposition (USP)? -If you can detail in a simple phrase why your business and products should be bought over any others. You might just have the idea to turn into a successful business.

I Want More!So you have made the decision. Its better than a good idea, its a great idea for my business. How do I start to make it happen?

Depending on the business type and size you may just want to build an action plan. An action plan takes the basic parts of this tutorial and works out how to make them come alive in a real life setting.

If you need to consider bank loans or funding you will need to complete a much more comprehensive business plan with full financial forecasts to ensure that your business will succeed and be able to pay off the loans in full.

If you want to take the next step and want some help along the way, we have tutorials for Operation Plans (Bring My Idea To Life!) and Everyday Business Plans (Go For Launch!) just get in touch through the website.