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/me looks at thread & runs in search of a rock to hide under
Posted: 17:43 Jan 26 2004
Help on Business Plans How To ...
I have been put in charge of writing up a business plan but wasnt told that a business plan is like a freakin dissertation !!!! i wos wondering if anyone here has had to write one out and what hints or tips they can give me.
It's gonna be a family business thing but becuase i have a pooter the others have left it to me
I already have templates which i got from google but they dont help with whats to be written.
(Edited by bipolar 26/01/2004 17:04)
It's gonna be a family business thing but becuase i have a pooter the others have left it to me
I already have templates which i got from google but they dont help with whats to be written.
(Edited by bipolar 26/01/2004 17:04)
7 Replies and 990 Views in Total.
Posted: 17:43 Jan 26 2004
Regretably, I've had to work on way too many of these. Business models too. Typically for big-ish companies though. In fact, I'm in Germany doing that right now. Alas, I'm kind of snowed under right now, will it keep till next week?
And they often turn out to be more works of speculative fiction than dissertations...
(Edited by Ming 26/01/2004 17:54)
And they often turn out to be more works of speculative fiction than dissertations...
(Edited by Ming 26/01/2004 17:54)
Posted: 17:53 Jan 26 2004
i have three weeks so take ya time any help will be appriciated 
*pulls wesley out form under a rock* and what are you running for mister???
*pulls wesley out form under a rock* and what are you running for mister???
Posted: 17:58 Jan 26 2004 
OK, if it's for a bank (which presumably it is) then basically all you need is figures. It would help if i knew the type of business but, since i dont, this is just general advice.
If you have run this sort of business before, great. if not researching other businesses in a similar vein is also good (though i doubt they will give you their books, you are the competition).
Banks basically look for a 3 yr plan and confidence in their customer. Confidence is key. if you're not sure, act sure.
For the plan itself, what is really needed is a monthy estemation of income vs outgoings.
Will anyone still be employed outside the business, therefor still earning a steady wage?
how fast, in all likley-hood, is the business going to grow?
What is your advertising revenue? Will this grow as your income does?
Do you have employees wages to take off the income each month or in the future?
Will your turnover in the 1st/2nd/3rd year be at the VAT level (50ish thousand. 52 i believe when i was in the UK) If you expect this turnover, account for putting your fees/prices up 17.5% in that year.
stationary/postage/office rent/machinery/computer/stock outlays, especially at the beginning. Are you renting machinery (monthly payments) or buying outright? (If it's all up front, then account for monthly maintenance of things like photocoppiers, toner, repairs, viruses, crashes etc. for a moderate family business i'd allow £20 a month for these)
Finally, it doesnt matter if you show a profit on these figures initally (IE a yr 18 mths). In fact if your plan shows an imediate profit they will wonder why you need a loan. But you must show you will be able to pay the loan back and make a profit within 2 or so years. (accounting for loan repayments in your figures also helps but isnt necessarily required since you dont know what they will lend and what the repayments will be).
Finally, include a brief explenation of how the business will work. Bank managers dont like dissertations. keep it simple, elegant and to the point (same with the figures).
This is my experience with banks.
Also, if they will not give you the required finance, try personal loans, everyone will give thise these days without the mess/hassle of business plans. just say it's for a new car/blow out holiday/home extention or something. they never check.
E-mail me if you need more help. the best address to use right now is margot_d4p@lycos.co.uk
Hope i helped
(as you can see, edited twice already with things i forgot. will get back with what else i forgot and remember at 4am tomorrow morning)
(Edited by Cat 26/01/2004 23:53)
(Edited by Cat 26/01/2004 23:57)
If you have run this sort of business before, great. if not researching other businesses in a similar vein is also good (though i doubt they will give you their books, you are the competition).
Banks basically look for a 3 yr plan and confidence in their customer. Confidence is key. if you're not sure, act sure.
For the plan itself, what is really needed is a monthy estemation of income vs outgoings.
Will anyone still be employed outside the business, therefor still earning a steady wage?
how fast, in all likley-hood, is the business going to grow?
What is your advertising revenue? Will this grow as your income does?
Do you have employees wages to take off the income each month or in the future?
Will your turnover in the 1st/2nd/3rd year be at the VAT level (50ish thousand. 52 i believe when i was in the UK) If you expect this turnover, account for putting your fees/prices up 17.5% in that year.
stationary/postage/office rent/machinery/computer/stock outlays, especially at the beginning. Are you renting machinery (monthly payments) or buying outright? (If it's all up front, then account for monthly maintenance of things like photocoppiers, toner, repairs, viruses, crashes etc. for a moderate family business i'd allow £20 a month for these)
Finally, it doesnt matter if you show a profit on these figures initally (IE a yr 18 mths). In fact if your plan shows an imediate profit they will wonder why you need a loan. But you must show you will be able to pay the loan back and make a profit within 2 or so years. (accounting for loan repayments in your figures also helps but isnt necessarily required since you dont know what they will lend and what the repayments will be).
Finally, include a brief explenation of how the business will work. Bank managers dont like dissertations. keep it simple, elegant and to the point (same with the figures).
This is my experience with banks.
Also, if they will not give you the required finance, try personal loans, everyone will give thise these days without the mess/hassle of business plans. just say it's for a new car/blow out holiday/home extention or something. they never check.
E-mail me if you need more help. the best address to use right now is margot_d4p@lycos.co.uk
Hope i helped
(as you can see, edited twice already with things i forgot. will get back with what else i forgot and remember at 4am tomorrow morning)
(Edited by Cat 26/01/2004 23:53)
(Edited by Cat 26/01/2004 23:57)
Posted: 23:51 Jan 26 2004
it's for a public house. family owned and only us running it for the first few months we wont even be paying ourselves wages, just money for food/bills til it takes off. *fingers crossed*
thanks for all of that i shall pass it on happily
(Edited by bipolar 26/01/2004 23:58)
thanks for all of that i shall pass it on happily
(Edited by bipolar 26/01/2004 23:58)
Posted: 23:56 Jan 26 2004
No experience of public houses, but i suggest looking on the net. most pubs these days are franchises so you may get some figures from their franchise sites (like vintage inns or beefeater)
stock will be important in your plan (drink, food? ashtrays) as will wages( might like to consult an accountant for the extra's like NI payments), equipment (cash tills, cookers? coolers? fridges? tables? new carpets? redecorating?) in the plan say what comes with and what needs to be bought new.
suppliers will give you prices for average consuption of beverages and food. the previous owners will also (likley) help with what staff is to be needed and the wages they paid.
You should also have their books to help with the figures but dont forget to include any plans for expanding trade (extra advertising, better food, more tables, live music etc)
stock will be important in your plan (drink, food? ashtrays) as will wages( might like to consult an accountant for the extra's like NI payments), equipment (cash tills, cookers? coolers? fridges? tables? new carpets? redecorating?) in the plan say what comes with and what needs to be bought new.
suppliers will give you prices for average consuption of beverages and food. the previous owners will also (likley) help with what staff is to be needed and the wages they paid.
You should also have their books to help with the figures but dont forget to include any plans for expanding trade (extra advertising, better food, more tables, live music etc)
Posted: 00:07 Jan 27 2004