printable business plan template

printable business plan template

Developing a Successful Business Plan

1. Introduction

Phase Three is preparing the business plan. This involves taking the information from parts one and two and consolidating it into a working document. This is for new businesses or established businesses launching new projects. A business plan is also a requisite for securing financial assistance. Any banks or financial institutions will need clear evidence that the business has a viable plan for taking their money and making a return on the investment. This section will lead you step by step through the business plan document.

Part Two looks at developing the business. This involves a meticulous examination of the basics of the business. Successful businesses are built on taking the right initiative at the right time. This part of the process is designed to take abstract ideas and fix them to the ground. It involves building the infrastructure of the business and searching for possible roadblocks that might get in the way of the business’ forward progress. This part will prove invaluable for people already in business who may have lost their direction.

The introduction presents the idea behind the business and the vision that will drive the business. It targets the strengths and weaknesses the business possesses and the opportunities and threats facing the business. Finally, the introduction sets the goals the business will try to reach over the next few years.

Successful businesses are built on exceptional ideas and smart plans. The key to a successful business plan is not so much the document that describes the business, but the process by which the business is defined and described. This package is designed to guide people through the development of a solid business plan. It covers the following four parts:

2. Executive Summary

The executive summary is often considered the most important section of a business plan. This section briefly tells your reader where your company is, where you want to take it, and why your business idea will be successful. If you are seeking financing, the executive summary is also your first opportunity to grab a potential investor’s interest. The executive summary should highlight the strengths of your overall plan and therefore be the last section you write. However, it usually appears first in your business plan document. The executive summary can be the most important section of a business plan. In fact, I advise you to write it last – after you have prepared the rest of your plan. This enables you to concisely determine the main points and creating a clear succinct business plan. An effective technique is to write the executive summary and then ask yourself “if I didn’t know anything about this business, would this report give me a full understanding of the business or do I need more information?” By doing this, you are ensuring that you haven’t left gaps in your plan.

3. Business Description

Feasibility of Business Idea Naomi’s Naan has evaluated current market trends and the future of the baked goods industry. Not only are Americans dining out more often, but on average, Americans spend 49% of their food budget in restaurants. With a continual increase from year to year, it has been predicted that the food service industry will grow by 18% in the next decade. Additionally, a rise in particular ethnic food movements has been noted, with extensive growth in the Mexican, Chinese, Japanese and Indian food industries. Based on the simple fact that grilled naan is indeed a delicious food, and the demand for bread is evident (as seen in the expanding sandwich shop industry), it is safe to say that naan bread has good long-term profit potential. In keeping with our society that is ever on the move with growing fast-food cultures, grilled naan is versatile and quick; hence an ideal food for today’s modern lifestyle. With an emphasis on family dining, there always exists the potential of new flavor introductions targeted toward children (such as grilled naan with chocolate or honey). An investment in a fun and delicious product for a brighter future is always a good idea.

Product Description Naomi’s Naan, a small start-up bakery located in the University District of Mont-Sur-Mer, will sell authentic, freshly baked naan. Naomi’s Naan has been spurred by the excitement of several friends and family members, as well as a growing interest in the naan business for the American public. While the company’s main focus is to offer famously delicious naan to the Mont-Sur-Mer community, it will also strive to create new and inventive flavors of naan to introduce to the American public. These flavored naans will cater to the mere curious, the health enthusiasts, and those with an exotic palate. Ultimately, Naomi’s Naan hopes to set up franchises in various locations around the world that will offer not only flavorful naan, but a fun and unique environment dedicated to global naan awareness and appreciation.

4. Marketing and Sales Strategy

Marketing Environment This section will offer a background for the marketing plan, describing important changes within the current marketing environment of the industry. Marketing macroenvironment trends consist of the economic environment, the political environment, culture, and the natural environment. Economic factors affecting the industry include a rising trend of internet shopping, as well as a downturn in the current economic cycle and the potential for negative effects on disposable income. The political environment is shown through the recent actions of the Office of Fair Trading, requiring seven airlines to pay £121.8m in fines for fixing surcharges on fuel. This is relevant to the airline industry in general and may also have indirect effects on the online retail sector. Cultural trends include the UK population’s increased awareness of the impact their choices have on the environment, shown through a trend that sees consumers switching from supermarkets to online shopping in order to combine their normal shopping trips with others, thus reducing their carbon footprint. This trend towards a greener UK society also means that consumers are increasingly seeking ‘green’ products and will react negatively to companies deemed as harmful to the environment. All of these changes in the cultural and natural environment affect the type of products consumers are willing to buy and hence affect the potential profitability and positioning of different types of products. This gives the consumer a large amount of buying power in products such as energy-saving light bulbs, which will have relatively high demand due to government legislation on phasing out incandescent light bulbs. The section will be summarized with a rough SWOTT analysis, clearly stating the main points of the marketing environment and the effects these changes may have on the marketing plan and the potential profitability of the Dr. Weasel product range.

5. Financial Projections

Revenue and costs – Start with the building blocks. Sales are usually defined by volume and price, so detail how many units you will sell and at what price. Direct costs can be similarly detailed as variable costs per unit. This will allow you to change your projections easily in response to income or changes in cost efficiency. Overheads are often best treated as fixed costs (which is a simplifying assumption) but adjust where necessary. Be realistic in your sales growth assumptions, usually growth takes longer than people anticipate. Finally, don’t aggregate too much, there is a lot of value in putting detail into your projections as this will highlight potential problems, which can be very useful in evaluating the feasibility of a strategy.

Historical results – This is the primary source of data, although the least reliable. The further you can take the historical trend in a consistent future scenario, the more reliable your projections will be.

Though very helpful in securing funding, financial projections are often an intimidating task for the uninitiated. The objective is neither accuracy nor precision in the numbers, but rather the achievement of a detailed, plausible scenario. The emphasis here is on realistic, credible, hard data-based projections with justifiable assumptions. Highlight major assumptions and the information that informs your projections.