Do you have a good Business Idea that you want to
transform into reality (Product & Service)? or do you intend expanding your
small Business. Business planning is the solution. You need to develop and
write a professional Business Plan in order to attract investors or
sponsors. If you have a good Business
Plan but don’t have a Start-up Capital or expansion capital, you can enter into
various Business Plan Competitions such as YOUWIN | Nigeria, Global Social
Venture Competition, Youth Social Entrepreneur Competition | Changemakers etc.
A primary aim of any Business Plan is to set out the strategy and action plan
for the business for the next 1- 3 years or more for long term. It
explains your objectives and how you will achieve them. Once written, the plan is a benchmark for the
performance of the business. The
act of writing the plan helps you crystallize and focus ideas, and identify your
priorities.
PROFESSIONAL BUSINESS PLAN FORMAT
FRONT COVER
Make this as lively and attractive
as possible. Remember to include your.
Business name/Limited
Liability,
Trade mark (if any).
Telephone, fax number, e-mail
address and website if you have one.
You could include your logo or an
eye-catching picture of one of your products or services. The period plan
covers
CONTENTS
It is important to have your
business plan clearly laid out in sections and a contents page with headings
and page numbers which will guide the reader quickly to a particular topic.
EXECUTIVE SUMMARY
Although found at the front of your
business plan, it’s the last section to be written, quite literary and a
summary of your business plan. Even if the reader has not read the full
business plan, the executive summary should convey all about the business plan
and who you are.
BACKGROUND INFORMATION
At this point, you do the
following:
Your Mission and Vision.
Promoters profiling, like who is
involved where you are based what up day.
You give details of the history of
the business and the type of business, where it is located, or expected to be
located.
How the business started and has
developed or how you intend to start and develop if you are a new
business.
Key achievements the business has
made (for those already in business should be added to the above).
Significant milestones, relevant partners
SERVICE/PRODUCTS
Give more information or your
service/product. Here you can show pictures, graphic showing growth rate,
diagrams you can make mention of brochure and leaflets that will be attached as
appendix
SWOT and PESTLE ANALYSIS OF
BUSINESS
SWOT means Strength, Weaknesses,
Opportunity and Threats
PESTLE means Political, Economic,
Social, Technological, Legal and Environmental factors that affect your
business. You should list them accordingly. They are factors beyond your
control i.e. external factors but it is still important to list them all e.g.
inadequate power
MANAGEMENT AND PERSONNEL
PLANNING
Describe the legal structure for
enterprise. You also need to explain the internal management structures.
Describe the staff role and any
skills, experience and qualifications, which will be necessary.
Address of any skill gaps by
including a training plan.
Organogram showing management
arrangement.
MARKETING PLAN
This is a crucial part of any
business plan. You will need to answer some of the following questions.
I. Marketing Research:
Who are your customers? Need
and preference of your customers; Service/product to offer; Competitors
II. Marketing Plan (Price)
Cost of product; How much customers
are willing to pay; Competitors price; How much do you sell? Reason for setting your price; Discount will be given
to the following customer ( if any); Credit will be given to the following
customers
III. Marketing plan (Place)
Location; Describe the planned
location of the business; This location is chosen for the following reason; Is
it convenient for you and your customers? Do you have competitors around your
business location? Method of distribution; The business will sell to :(
individuals, Wholesalers, Retailers, Others specify); This way of distribution
is chosen for the following reason; Cost of paying for the place.
IV. Marketing Plan (Product/Service)
Quality; Product variety; Packaging;
Cost of production or delivering this service
V. Marketing plan (Promotion)
How will you get the word to
customers? Type of advertisement, word of mouth, public relations, sales promotion
etc Why; Details; Price (cost to do the advert); Graphic image: Logo
design, cards, letter head
VI. Target Market
The target market of your business plan must clearly
identify the current and prospective buyers of your company’s products and
services. The goal is to define your customer base as specially as possible.
Will you be selling primarily to (private sector, Wholesalers, Retailers, and
Governments etc)
OPERATIONAL PLANS
How will the products/services be
delivered?
How will the customers receive the
services/products?
What days and time are involved, any
peak and low operational
period?
What equipments do you use or need
to use as the case may be?
What consumable materials are needed
e.g. paper, soap, fertilizer, fuel, etc
The resources you needed should
cover staff, premises, facilities, and all necessary equipment.
Describe how the business will
develop by illustrating your short, medium and long time goals,
Milestone
REGULATIONS
Taxes applied to the business; Regulations
applied to the employees; The business will need the following license and
permits; The business will have the following Insurance
FINANCIAL PLAN
This is the vital part of your business plan and often
the section, which is referred to before anything else! By completing the other
sections of the business plan you should have already arrived at most of your
costing, these can now be illustrated through budgets for year one and two
and a two year cash flow forecast.
Sources of startup (Owners equity,
Loan if any, others)
Net worth for existing business.
Value of working equipment (Wages,
fuel, Telephone, depreciation)
Capital equipments
Advertisements/promotion
Utilities (Fuel, Mobile Phone,
water, waste disposal, etc)
Cash flow
Book keeping.
It is also important to include details of the
financial systems you will use, particularly the controls on those systems. Who
will sign cheques? What information will be used to make financial decisions in
the business? What safeguards will you establish to account for and monitor
income and expenditure?
EXIT PLAN
With time people may be interested
in your business as it is growing. It is always good to think ahead of what
happens to the business in ten years or twenty years time. Like Venture. Capital
or Angel Investors may want to buy share and want to know what will happen to
the business. Here are some possible exit strategies to consider…
Merger/Acquisition; Buyout by partner in business; Franchise your business; Hand
down the business to another family member; Going out of business sale.
APPENDICES
You can include
here any documents that are too detailed or bulky to go in the main body of the
text. These could include some of the following: Brochures, Leaflets,
Photographs, Diagrams, Maps,
Market research information, Questionnaires, Surveys,
References, Other supporting materials relevant to social enterprise,
Curriculum vitae Bank statement
AEA Business Plan
Format