# BARCLAYS Your business planecht If you have any questions or need a hand filing ‘out this business plan template, just ask one of ‘our Local Business Managers. To make an appointment, call 9800 515 462°.eee title Mel} msl] miss|_] ms! other ‘Surname First name(s) Address Postcode Nationality Country of residency Date of birth y ‘Telephone Home [57 Ne. Wor [5 No. Mobile telephone Email address Education (eg qualifications, university degree) Relevant work experience ‘Training (list any elevant courses that you've been on or plan to take in the near future) So, what's your business idea? What resources, expertise and equipment will you need to get it started? What's the name of your business? Companies House Remeber to check tat your business rare st ready beng used Tak a ok onthe ert or check the index of company names held at What date did your business start/wilt start? ‘Type of business Sole trader|_] Partnership |_] Limited company FranchiseCree Planning What do you want to get out of owning your own business? It's important to set yourself short- and long-term goals, like whether you want to become a market leader or make a certain amount of money, right from the start, Outline your goals in the spaces below. My short-term business goals are: My short-term financial goals are: ‘My long-term business goals are: ‘My long-term financial goals are: ‘This is what | want to achieve over the next few years: Year 1 Year 2 Year 3 Knowing your product or service Think about your product or service and how you can make it stand out from the competition, ‘The Unique Selling Proposition of my product/service is:Pricing {tll pay (in more ways than one) to get your prices right. They'll need to do more than just cover your costs if your business is going to grow - they need to make you a profit. Keep an eye on what your competitors are charging and what your customers are willing to pay so you don't undersell your product or service, ‘Answer the questions below to quickly check whether your prices will be enough to make you money. The table Con page 8 will help you to work out the ‘breakeven point’ of your business in more deta. (@) Price per hour/per day/peritem* that 'm going to charge . (b) Direct costs per hour/per day/per item* excluding : overheads are (©) Gross profit per hour/per day/per item” is (a)-(b) z (a) Gross profit margin (c)/(a) x 100 = (sometimes called 'mark-up’) % (6) Overhead costs estimate for the whole fist year of trading : sed on your pricing, the minimum amount you'l have : to sellin the first year to make a profit=(e)/(d)% Check whether the minimum you need to sellin a year looks realistic. IFit doesn’t take another look at your pricing of if you need to, review the costs involved in running your business, bale th ones that dn’ aay [amma Your market is your area of business, ke catering or building, as well as the people that make up your customers. You peed to understand how your market behaves and what your customers want. To answer the following questions, you'l need to do some research. Your answers will help you to figure out whether you can realistically earn enough money {rom your business to lve on 1. The number of customers availabe to my business is approximately 2, My markets currently in decine/undergoing growth (delete the one that doesn't apply). What are the reasons for this? Have there been any legislation changes? Are you aware of anything that might impact on tin the future? 3, | would say the demand for my products a one-off purchase/repeat purchase (delete the one that doesn't apply). IF it’s a one-off purchase, how are you going to keep up sales?It's important to have a clear picture of who your ideal customers are — what are they like and what are they buying? You should remember that your customers are price-sensitive, too. They'll want a competitive price that's fair for ‘what they're buying. Your answers below will help you to target your product/service at your customers better. My typical customer profile ge] sex] income bracket|______] 1. Their needs are: 2. How would my typical customers tend to buy products and services? 3. Customers will use my product/service for: ‘4, What they value most about my product/service is: 5, What these customers would value (but don't really get from existing businesses) is: 6. I could deliver this by: 7. They will buy my product/service through the Internet/at my shop/over the phone/other: 8, Buying my product/service will be a one-off purchase/repeat purchase: 9, The after-sales service they expect from me is: 10.They would choose my product/service over my competitors because: It's important to understand what your competitors are offering so that you can make your product/service different, or better, than theirs. its different or better, you might attract more customers, and you might also be able to charge ‘more. By filling out the following table, youll have a clearer picture of just how well your business measures up.‘Comparing your competitors os femuos Ee Product/service Price Availability Reputation Delivery Location Special offers After-sales service Strengths Weaknesses Unique Selling Proposition Promotion/sales ‘My product/service is better than each of my competitor's because: Competitor A Competitor B Competitor C‘Think carefully about your business location. Will you work from home to save money? If not, how are you going to pay for your premises? What insurance will you need to take out? ‘The location of my business will be: ‘Advantages of this location are: {'m going to rent/lease/buy my business premises (delete the one that doesn't apply). Other must-haves (eg loading bay, customer parking, etc) will be: Beng abe matt ond you dics cs ete sone te met portant anes ung waa venta yar bsnes lutea cscns at ascasond cnc tenet (Once you've settled on a marketing budget for your business, igure out which methods willbe best for your business ‘and write them down below. Type of advertising/promotion Successtobe measured by Method Cerny Dame Method 1 Yes/No £ Method 2 Yes/No £ Method 3 Yes/No © Method 4 Yes/No £ Method 5 Yes/No £ Method 6 Yes/No © Total budget | £Having a good understanding of the financial side of your business right from the start will increase your chances of success. Remember, you can always get help from a Local Business Manager, as well as through your local Business Link or Enterprise Agency. Profit and loss forecast | have completed a profit and loss forecast to check that my business will make a profit: Yes/No Cash flow forecast ‘have completed a cash flow forecast to check that my business can meet its day-to-day costs: Yes/No Sales projections -the amount | think I'l sell is based on these assumptions: Initial sales orders ~ the orders | already have in place are: order 1 Detals: Value £ Order 2 Details: Value £ Order 3 Details Value £ Purchase arrangements — I've negotiated credit terms from the following suppliers onder Data Value E onder 2 Details Value onder 3 Details Value Fixed costs ~the average monthy costs that | always have nun to pay to keep my business running (eg rent heating, etc) are: p Variable costs — the average monthly costs of running my business — that are irregular and might change (eg advertising, stationery, etc) are: per moni Current business assets - my current business assets (e9 vehicles, equipment, machinery, etc) are: ‘Asset 1 Details Value £ ‘Asset 2 Detals: Value £ ‘Asset3 Detals Value £ Future business assets ~| think I'l need the following assets when | start my business and in its first year: Asset 1 Detals Value £ ‘asset? Dela Value Asset 3 Detals Value E Funding your business — nance the start-up of my business through the folowing: rants Detals Value E wn resources [Details Value £ Loans Detals Value £ Creditors Details Value £Een Leen The table below wil help you to figure out your ‘breakeven point, which is when the amount your business sells ‘matches what it spends. Personal drawings Salaries/wages National Insurance Tex Stationery/postage/printing ‘Management services payable to franchisor (if applicable) ‘Advertising Telephone Rent/rates/water Heating and lighting Vehicle depreciation Petrol Servicing Road Fund Tax Business insurance Bad debts Bankloan Bank charge ‘Accountant's fees Direct/variable costs eg raw materials ‘My breakeven point is how much | need to sell to cover the total of all the costs listed above | intend to keep my books up to date ryself/with the help of a book-keeper/with the help of an accountant: If you're keeping your books up to date yourself, what book-keeping package will you use? If book-keeper or accountant will manage your books, please write down their name, address and telephone number.ee ened Barclays s commited to he Busnes Bark Code, which ses othe governing principles of bar’ dealings with ts customers. As such we ‘ensure that our products ae services comply wth he ters ofthe Cade. You can aban fe copy of the Busnes Banking Code by phoning the Barclays information Lne ie on 0800400 10D The Busines Barking Code doesnot apply to business custome of branches in the Channel Islands andthe sof Man Under the Data Potion Act youhave aight af accesso cet personal ecards Should you wht exercise thi ight plese write tothe Data Protacton Tea arly tank PL Krusord, Cheshire, WAG SEU, quoting ref APP9D A fee wl charged or this sevice arly Bank PLCs “covered by the Financial Ombudsman Sense (UK branches on). mores ‘We want a haar rom yu fou feel unhapey withthe Service you have ecehed fom us Lettg us know your conces gies us the apparunity ‘to put maters rg for you and improve our serceto a ou customers. YOu can compan in peson at our branch, In witng, by eal by teleshone. eft detating how we dea wrth complains avalable upon request nay of cur ranches, fom the Bacay Information ine on 0800 400100 at wnnarcayscauk Ateratvsy you can write to Bacay, ecester LEB 288, Deere Ur RRC eed Full details of our services and facilities for disabled customers (eg induction loops for hearing aid users, cheque-writing templates, bank note gauges, etc) can be found in our brochure “Disabled customers ~ making our services available”, which is available in standard print, Braille, large print and audio tape. For your free copy, call the Barclays Information Line on 0800 400 100! (via Typetalk if appropriate) or order online at www.barclays.co.uk Ifyou need a copy of this item in Braille, large print or audio tape, simply call 0800 400 100? and quote item reference number 9904601 (you can also use textphone), or order online at www.barclays.co.uk ‘You can callus fom B30am to pm, Monday to Friday. 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