startup business plan for insert name of business name · a good business plan is essential for...
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Start-up Scheme
BUSINESS PLAN
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LET’S WORK ON YOUR AMAZING BUSINESS IDEA!
A good business plan is essential for your Start-Up Scheme application.
We’re here to guide you through the Start-up Scheme application process
starting with this business plan template, so you can show us why you and
your business idea are a great fit for the Start-up Scheme.
This document is designed to help you create a business plan that is relevant for your Start-
up Scheme application through Warwick Enterprise.
WHAT MAKES A GOOD BUSINESS PLAN?
We are big believers in doing as much planning and research as possible before starting
your business – knowing the market and who your customers are will dramatically increase
your chances of getting it right.
The idea, your ability to launch and operate the business, and the logistics, are all very
important considerations but first you need to demonstrate that there are customers for
your business and that you have access to this market.
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WHERE DO YOU START? A business plan helps you look at your proposition more objectively.
The key to getting it right is listening to and learning from the people who’ll be paying for your product or service.
Good Luck!
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BEFORE YOU START
Your Name
Your Business Name
Describe your business in one sentence
Your Business Team
(if also applying for the Start-up Scheme)
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1. YOUR BUSINESS IDEA What will your business do and what is the opportunity? Describe, in detail, the products and/or services your business will be selling, what channels you will use to sell them and who you will sell them to. What does your brand stand for? What is the business philosophy? What are your business values?
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2. YOU AND WHY YOU’RE STARTING Tell us about yourself, where the idea came from, and how your knowledge and experience will help you launch your business idea. If you are applying as team, what skills or value does your team also add to the start-up?
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2.1 Your vision
What is your vision for your life and business career in the next 2 years?
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3. MARKET RESEARCH:
Your business idea is great! And there will always be other businesses trying to attract your customer’s attention – either on price, features or quality. You need to make sure you understand your competitors’ strengths and weaknesses.
COMPETITOR 1
Name
Type of Competitor
What will you be competing on
Strengths of Competitor
Weaknesses of Competitor
Summary of How you will compete with them
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COMPETITOR 2
Name
Type of Competitor
What will you be competing on
Strengths of Competitor
Weaknesses of Competitor
Summary of How you will compete with them
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COMPETITOR 3
Name
Type of Competitor
What will you be competing on
Strengths of Competitor
Weaknesses of Competitor
Summary of How you will compete with them
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COMPETITOR 4
Name
Type of Competitor
What will you be competing on
Strengths of Competitor
Weaknesses of Competitor
Summary of How you will compete with them
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4. CUSTOMER RESEARCH This is perhaps the most important part of planning and launching your business - Validating your idea by talking directly to the people that will be buying your goods or services is the only way to ensure you are solving a problem the right way, and that there are customers willing to pay you to do it. Direct Research Describe what research you have done with your potential customers, what the findings of the research were, and how you have used this to validate your idea.
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4.1 Evidence of Demand Describe how you have you used your customer research to build up a picture of future demand.
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5. MARKETING
5.1 Customer Profile Based on your market and customer research you should now have a good idea of the different types of customers your business will appeal to and how to reach them with your marketing activity.
CUSTOMER PROFILE 1
Customer
Description of Customer
Why are they your Customer
Channels you will use to market to them
Activities within channel and related
costs
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CUSTOMER PROFILE 2
Customer
Description of Customer
Why are they your Customer
Channels you will use to market to them
Activities within channel and related
costs
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CUSTOMER PROFILE 3
Customer
Description of Customer
Why are they your Customer
Channels you will use to market to them
Activities within channel and related
costs
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CUSTOMER PROFILE 4
Customer
Description of Customer
Why are they your Customer
Channels you will use to market to them
Activities within channel and related
costs
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5.2 Route to Market Whether through a personal connection, an existing network of contacts, an audience you have built up on social media, or sign-ups you have collected on your website, it’s important to demonstrate you have access to the market you plan to sell to – Who are your first customers going to be and why have you chosen this as your route to market?
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6. WHY NOW Why is now the right time to start your business? How would you benefit from the Start-up Scheme?
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7. OPERATIONS
7.1 Premises Where will your business operate from? If your business premises plays an important part in your marketing/attracting customers (shops, restaurants etc.…) you will need to have identified a specific location and explain why you have chosen this premises.
If the business is less dependent on a specific location (operated from a readily available type of premises such as an office or industrial unit) you may not need to provide this but you could provide evidence of example properties that are currently available within your budget that suit your requirements.
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7.2 Staff Are you planning to employ any staff in the first 12 months of trading? If so, make a list of them here, what their role will be, when they will start, how many hours per week they will work and what they will be paid.
Role/Job Title What will the job title be or what will the functions be?
Hours per month/week or FT How many hours per month will the employee work if part time? Or state if full time.
Cost What will their monthly salary, or average monthly cost be? – This should include employer’s national insurance and any other employer’s costs. If they will be paid by the hour please include the hourly rate as well.
Month Start (1 – 12) What month in year 1 will they start
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Role/Job Title What will the job title be or what will the functions be?
Hours per month/week or FT How many hours per month will the employee work if part time? Or state if full time.
Cost What will their monthly salary, or average monthly cost, be? – This should include employer’s national insurance and any other employer’s costs. If they will be paid by the hour please include the hourly rate as well.
Month Start (1 – 12) What month in year 1 will they start
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7.3 Suppliers and Third Parties Make a list of all suppliers and major third parties your business will deal with throughout the first 12 months, what they will be supplying, and how they are relevant or connected to your business.
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7.4 Risks What are the operational risks facing your business and what are you doing to mitigate the effect these will have on you and your customers.
Risk Factor
Impact on Business Mitigation and Outcome
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7.5 Legal and Regulatory What legislation and regulations apply to your business? Are there any specific licenses or qualifications required for you to operate the business either legally or for credibility?
Relevant Law, regulation, license or qualification
How you plan to fulfil this requirement
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8. NEXT STEPS
If your application is successful what are the next steps you need to take to successfully launch your business, when do you need to complete them by and what is the cost associated at each stage?
Need to do By When Associated Cost
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Need to do By When Associated Cost
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It’s really important that you consider how you plan to support yourself if your business’ performance is not generating sufficient income.
Your Living Costs 1. How do you currently pay for your living costs? (i.e. part time job, family support, savings)
2. How will you pay for your living costs when the business launches? 6.6 Legal and Regulatory | Click here for more guidance
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The success of a business is often about “keeping your eye on the prize” – Can you identify an aspiration for where you want your business to be in 12 months, 3 years’ time and beyond? This information will help us to understand more about your long-term goals so we can work out how to best support you.
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CONGRATULATIONS - YOU’VE COMPLETED YOUR BUSINESS PLAN TO APPLY FOR THE START-UP SCHEME!
You’re one step closer to turning your business idea into a reality and it’s a big step we want to celebrate you – share your progress with the start-up community @warwickenterprise
If you have any questions about the business plan email [email protected] and one of the Warwick Enterprise team will be happy to help you.