A business plan is the written description of the future direction of the business. It helps entrepreneur in Putting Ideas together and Preparing B-Plan Draft.
A good business plan must be developed in order to exploit the defined opportunity. This is a very time-consuming phase of the entrepreneurial process. An entrepreneur usually has not prepared a business plan before and does not have the resources available to do a good job. A good business plan is essential to developing the opportunity and determining the resources required, obtaining those resources, and successfully managing the resulting venture.
Business Plan Format:
1. Title Page
2. Table of Contents
3. Introductory Page (Name and address of business, and promoters, Nature of Business, Statement of financing needs)
4. Executive summary
5. Description of Industry- Industry Analysis ( Future outlook and trends, Competitors’ analysis, Market segmentation, Industry and market forecast)
6. Description of Business (Product(s), Service(s), Size of business, Office equipments and personnel, Background of entrepreneurs)
7. Functional/Operational Plans:
• Production plan (Manufacturing Process, Physical Plant (Layout and Location), Machinery and Equipments, Production inputs and output specification (Raw material, tools and consumables, suppliers)
• Operational Plan (Descriptions of new business operations, Flow of orders for goods/services, Technology
•Marketing Plan(“4-P” Description (Product, Pricing, Place and Promotion elements), Product Forecasting, Controls)
• Organizational Plan (Form of ownership, Organizational structure Design, Job Design & Descriptions (Roles & responsibilities of members of organization), Manpower plan, Management-Team background)
• Financial Plan (Statement of financing needs & Capital structuring, Source of financing details, Statement of application of funds, Statement of financing working capital needs, Cash Budget, Proforma Income statement and Balance Sheet, Cash & funds flow projections, Break-even analysis)
8. Assessment of Risk and Uncertainty
• Identification of Risk-aspects
• Evaluate weakness of business
• SWOT analysis
• Contingency Plan
9. Appendix (Backup material)
• Letters
• Market research Data
• Leases or contracts
• Price lists from suppliers
