What is your market share? This section helps readers understand what your business does and the industry it operates in. Base your business plan on reality, or it may be counterproductive Over-optimistic sales forecasts can lead to increased overheads followed by a cash flow crisis and drastic cost cutting, all of which can seriously damage morale.
Why will your target customers buy from you instead? For example, price, quality, distribution. Note the distribution channels used by your competitors.
What is special about your business that will make it succeed? Analyse the workforce in terms of total numbers and by department Compare the efficiency ratios with competitors, or with similar industries.
How has their advice strengthened the business? Address any particular risks, threats or weaknesses you face. Include a contents page, with page and section numbering.
Explain your business and what it does Outline your target market and how you stand out from the competition Explain how you market your business and make sales Describe the key people in your business Identify any key practical issues Present your financial forecasts Summarise what financing you need To use this tool, please select a section from the progress box on the right hand side to open the tool.
Why is there an opportunity for your business? What will any financing you raise allow you to do? If there is a lot of uncertainty, it may be worth providing a range of forecasts: Explain any key features of the industry For example, any special regulations, whether the industry is dominated by a few large companies or any major changes in technology.
Explain the background to your business. This section shows how you will reach customers — how you attract their attention and how you make sales. Keep the plan short Focus on what the reader needs to know.
Detailed business plans are often quickly shelved, because they are difficult to use on an ongoing basis. What equipment and machinery do you have or need? Management credibility can be damaged. Cut out any waffle. For example, telesalesa direct sales force, through an agent or over the internet.
Employees How many employees do you have or need apart from the management team? Explain how long it takes to make sales and to get paid for themwhat the average sales value is and how likely customers are to give repeat orders. Do you have any existing customers or hot prospects, and will you get repeat sales?
Compare your current channels with the alternatives. Give details of any existing customers or interest expressed by potential customers.
Markets and Competition Guidance Note: Are there any special skills needed? Start with an executive summary. Profitability How profitable will the business be over the next year? How do you do your selling? People often make provisional judgements based on the executive summary.
What does the business do? If you are considering using a new method, start on a small scale.Welcome to HSBC UK banking products including Life events Help & support Press enter to start navigating the Book your review today for a quick financial.
Business Plan Template I'd like to receive business offers, start up news and exclusive business tips by signing up to the Start Up Loans newsletter. Find the banking services available to Small Business on HSBC US. Checking accounts, specialised deposit accounts and other essential tools.
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