business plans Flashcards
name things to include in your business plan
business idea, market data, marketing,personnel, financial forecasts, operations/ productions, location, premises and equipment
business idea:
name, legal structure and concept of business purpose
market data
size of market, target market, main competitors
marketing
price, product, place promotion
personnel:
the people who will run the business, roles+responsibilities of employees
financial forecasts
allows you to calculate + analyse financial indicators, revenue, costs , profits and producing a cash flow forecast
operations/ productions:
where business will buy supplies + costs of production
source of finance
how much needed to start and run business and where money will come from
aims and objectives
using SMART principles it will be what you want to achieve in the future and long term
location
whalers it’s going to operate and channels of distribution used
premises and equipment
costs of premesis as well as equipment
what’s the purpose of a business plan
minimises risk
helps gain understanding of each element and likelyness to succeed
