A business plan is a roadmap of your business. It details how your business wants to achieve its goals and should include its operational, financial and marketing strategies.
- What type of business do I want to run - will I be selling products, services, or both?
- What products or services will I be selling?
- Will the business be manufacturing products or buying them from a manufacturer?
- Will I be in business by myself or in a partnership?
- How will the business be funded?
- What market will the business be serving - in other words, who are my customers?
- Who are my competitors and how will I overcome competition to succeed?
- Business details - include the name of the business and/or trading name as well as the physical address.
- Business overview - describe what your business is all about.
- Business operations - state what you sell as well as how and who you will sell to.
- Business environment - describe factors that will impact your business, like; sales, customers and debtors.
- Sales and customers - describe in detail your sales projections, the number of customers you want to attract and their locations.
- Debtors - state how you will deal with customers when it comes to credit.
- Creditors/Suppliers - describe how you will relate with suppliers when it comes to payment and deliveries.
- Competitors - identify your key competitors and describe your competitive advantage over them.
- Financial review - for a start-up this may not apply but for established businesses include your financial reports, your business’s current financial position and your financial plans going forward.
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