business development plan template stage 2 · section e: swot analysis top tip! to help you score...

1 New Business Development Plan Template 2014

Business Development Plan Template

Stage 2

Business Development Track This template is for schools that are developing an existing school business

IMPORTANT: HOW TO COMPLETE AND SUBMIT YOUR BUSINESS PLAN

This template should be completed by students with the support of teachers.

Please use the format provided as this is aligned to our marking scheme.

There are 2 Parts to the Business Plan template.

- Part 1: Business Plan. Please answer ALL questions.

- Part 2: Financial Plan. Please answer ALL questions in Sections A-G. Section H and I are

optional.

You can use extra pages. However, please try and keep your submission to 10 pages maximum.

The numbers in brackets e.g. (10) indicates the highest number of points that can be awarded

for that question.

Follow our top tips to score high points and increase your chances of winning a prize!

You can also earn bonus points by including supporting documents in the Appendix!

When you are ready to submit your completed business development plan to us, please follow

these instructions:-

- Log in to your account at: www.schoolenterprisechallenge.org/login

- Go to the ‘Progress Report’ on the right hand side.

- Click on 2) ‘Submit Your Business Plan!’

- Choose your file and upload your completed Template. Click SUBMIT!

Contact the School Enterprise Challenge team at:-

E-mail: [email protected] Blog: http://schoolenterprisechallenge.wordpress.com/ Website: www.schoolenterprisechallenge.org

? Any Questions

http://www.schoolenterprisechallenge.org/login

mailto:[email protected]

http://schoolenterprisechallenge.wordpress.com/

http://www.schoolenterprisechallenge.org/


PART ONE Section A: Your Details

School name Carlogie Primary School

Country Scotland

Section B: Your Business Details

Business Name Fairlogie

Business Activity (E.g. Beekeeping) Fairtrade Café

Main product / service (E.g.Honey) A range of Fairtrade Products

No. of students in business team 51

Net Profit in previous year in US $ (Actual) $1448.45

Business Development Budget in US $ (Estimated) $1394.41

Additional Capital required in US $ (Estimated) £0.00

Total Sales Income in US $ (Estimated) £802.55

Net Profit in US $ (Estimated) £519.18

Section C: Market Research and Target Market

1. What Market Research did you do? Please include how you did your market research and how many people you spoke to. (5)

Our first Fairlogie Café was held in September and at this café we did a customer survey. The

customer survey was developed by our Market Research Team and the survey was carried out by

the people working at our café who were working on the display boards.

The aim of our survey was to find out what our customers thought about our café and find out how

they would like to see our café develop and improve. Therefore, we asked our customers four

main questions:

1. What do you think would make our café better?

2. What more could we sell at our café?

3. What do you like best about our café?

4. How did you find out about our café?

In our survey, we spoke to 11 people. Our customer responses can be found in the next questions.

In addition to our customer café, we also spoke to the Fairlogie business teams to get their ideas

about how we can expand our business. One member of our Market Research Team conducted

a mini survey to ask what we thought we could do to expand/improve our business. The main ideas

were:

Make more recycled jewellery to sell at the café by training more people to make it. Make homemade ice cream to sell at the café. Hold a competition to design a mascot for Fairlogie.

2. What were the results of your Market research? Please include how your market has changed and how you will adapt. Also who is going to buy your new product or service and why? (10)

Our results found that our business teams wanted to expand our recycled bead making part of our

business. 48 out of 51 of the pupils voted for this.


The customer survey that was carried out showed the following. The main answers to each

question asked are summarised.

What do you think would make the café better?

More home baking (Rocky Road)

Some background music

Hotter hot drinks

Table decorations for special times/seasonal decorations.

Homemade crafts/jewellery.

What more could we sell?

Mango chutney

Scones

More home baking

Wider selection of Fairtrade chocolate

Fruit

Homemade jewellery/crafts.

What do you like best about our café?

Home baking

Wonderful staff

The children were very welcoming

Seeing the kids excited

Happy atmosphere, very friendly

Everyone very welcoming, good atmosphere and a lot of chat.

Very friendly and happy atmosphere.

Lovely coffee

Nice to see everyone working together

Great friendliness

How did you find out about our café?

Children told us.

Through the church

Through the school

Local knowledge

The main results of our customer survey showed that our customers were very happy with the way

the café is run, the suggestions we received to improve our café were to sell more home baking,

play music, decorate our tables during seasonal time and to see more homemade crafts/jewellery.

In terms of other products that we could sell, the main suggestions were as above, more home

baking and handmade jewellery.

Our market has changed slightly because there is more demand for homemade baking and

homemade crafts. Typically, we buy all of our products from Traidcraft and Just Trading Scotland

rather than make them ourselves. In order to meet this new market, we have decided that we will

take suggestions from our customers and our business teams as to what home baking they would

like to purchase. We will then have to communicate with our helper who helps us with the baking

so that she can buy all of the ingredients that we need. It will then be our aim to try to increase the

quantity of baking that we do for each café.

In terms of homemade crafts/jewellery, we will plan to increase the number of homemade pieces

of jewellery that we make. We also plan to start making some other craft pieces that we can sell


towards the festive period. This will require us to learn more about jewellery making so that we can

build a big team of people to make the jewellery. Luckily, we have a pupil in Primary 7 who has

experience in making jewellery and she can help to train us all.

Our new products have been suggested by our customers and we hope that our customers will buy

these products when they become available because these are the things that they have asked

for.

Section D: Competitors and Competitive Advantage

TOP TIP!

To help you score high marks in Section D, read our Competitor Analysis guidance in Weekly Guide 5 and

in the ‘Resources’ section of your school profile!

3. Who are your main competitors and what are their strengths and weaknesses? Please fill in the

table below. You may add extra rows if you need to. (5)

Competitor Name Who are your main

competitors?

Strengths What are your competitor’s main

strengths?

Weaknesses What are your competitor’s main

weaknesses?

E.g. Mary’s vegetables E.g. Good reputation E.g. Limited selection of vegetables Co-op They sell lots of Fairtrade fruits They don’t sell Divine Chocolate

Woodlands Fairtrade

Café

They have entertainment at the

café.

It is run by parents rather than the

children.

Their café is only open once a

term.

If you have more detailed information about your competitors, please include it here. E.g. You may describe how your competitors have changed.

4. How are you going to be better than your competitors? E.g. Our competitors have a limited selection of vegetables, so we are going to sell a large range of vegetables. (5)

Our business, Fairlogie, is run by us, the children, and we believe that this makes our café better

because the public and our parents like to be served by us. A number of our customers have

commented on how fantastic it is to see us working so hard and learning so many new skills at the

same time. At our first café this month, a Depute Head Teacher from another school in our area

came to see how our café works and she was very complementary about how independent we all

were doing our jobs and commented that we were a ‘credit to our school’.

Another thing that makes our business better than Woodlands is our café is held every month (the

third Wednesday of every month). This means that it is open on a more regular basis for our

customers.

Fairlogie Café also uses the local church hall and this means that we have a bigger customer base,

compared to their limited customer base, because lots of the church members come along to our

café every month.

During our cafes, we have a group of pupils who are always undertaking surveys to ensure that our

customers are happy and we are meeting their needs. It also gives us a chance to ask our

customers what they would like at the café e.g. new products.


We don’t see that the Co-operative will be a huge threat to our business as although they sell lots of

Fairtrade products, we have a different range of products available which offers customers

something different from what they can buy in the shops.

Section E: SWOT Analysis

TOP TIP! To help you score high marks in Section E, refer to the SWOT Analysis guidance in Weekly Guide 5.

Remember! Your Strengths and Weaknesses are internal to your business and in the present. Your Opportunities and Threats are external to your business and in the future.

5. Complete the SWOT Analysis below. (5) Strengths – What are your strengths?

E.g. We have a good reputation.

We sell a large variety of products.

The children run the café and do it all

by themselves.

We are friendly and provide good

customer service.

We have fair prices.

We have regular customers.

Our customers like getting served by us.

Weaknesses – What are your weaknesses?

E.g. High transport costs to market

We have limited opportunities to

advertise our business.

Our team is newly formed and we are

learning how to work together and run

the business successfully.

Some of our popular products have

been discontinued.

Opportunities – What opportunities do you have?

E.g. Arrival of new farming technology.

We have money to expand our

business.

We are looking to have new products

to sell.

We are going to make our own

jewellery from recycled beads and

charms.

Threats – Does your business face any threats?

E.g. More competitors enter the market.

There is another Fairtrade café in a

nearby school.

The church may start charging us for

rent and utilities.

There are lots other cafes in Carnoustie

who are open more regularly.

Other cafes may be more popular that

us.

Section F: Operational Plan

6. What steps will you take to develop your business? Think about the one-off tasks you need to do to start growing your business. E.g. First, we are going to source new suppliers. (5)

In order to develop our business to include more home baking and homemade crafts and

jewellery, one of the first tasks that we need to do is source a supplier(s) for the materials that we will

need.

In terms of the home baking, we will take suggestions from our business teams and customers as to


what baking they would like at the café. Next, we will need to speak with our helper who helps us

with the baking to share our ideas with her. Finally, we will need to make a shopping list of all of

the ingredients that we will need for our baking.

To make our homemade crafts/jewellery, our first focus will be to make the homemade jewellery.

To begin with, we will need to identify what supplies that we will need to make the jewellery. Next

we will need to source suppliers that can supply the equipment that we will need. Then, we will

need to compare prices from the suppliers to check that we are getting the best deal. Once we

have sourced the best supplier, we will need to order our equipment. After our equipment has

arrived, we will need to be trained by our primary 7 on how to make the jewellery. Finally, we will

be able to start producing the products and selling them at our café.


7. How do you produce or deliver your product or service? Use the table below. You can add rows if you need to. (5)

Task What tasks need to be done on a daily, weekly or monthly basis

to make your business run?

How long? How long will

these tasks take?

How often? How often do these tasks need to take place? E.g. Daily?

Weekly?

Who? Who will be responsible

for these tasks? E.g. communications team

Order goods 1 hour Monthly Sales

Agree sale prices 30 mins As required

Check stock 1 hour Monthly

Source different

providers/products

1 hour As required

Negotiate trade discounts 1 hour As required

Make price labels/price lists 30 mins As required

Order for seasonal changes 2 hour X2 yearly

Count money from Café 1hour Monthly Finance Team

Talk to Sales Team about

available monies for new

stock

30mins Monthly

Pay invoices/complete

cheques

30mins When needed

Complete bank pay-in slips 30mins When needed

Reconcile bank statements 1 hour Monthly

Keep accurate records 1 hour When needed

Organise all the jobs for each

Café

1.5 hours Monthly Human Resources

Team

Keep records of all the staff 30 mins When needed

Deal with any problems in the

Teams

1 hour When needed

Organise interesting display

boards for the Café

1.5 hours Monthly Market Research

Team

Make Menus 1 hour When needed

Do customer surveys 1 hour When needed

Act on any comments

suggestions from our

customers

1 hour When needed

Design posters and flyers 1.5 hours When needed Advertising Team

Think about different ways to

advertise

1 hour All the time

Make table tents to tell when

our next Café is

1 hour Monthly

Speak to sales Team re

special offers

30 mins When needed

Make beads 1 hour All the time All

Make paper bags 1 hour All the time All


8. How is your business team structured and what changes have you made to it? You may like to include your Organogram here. (5)

Section G: Marketing and Sales Plan

9. Tell us about your 4 P’s (Product, Price, Place, Promotion). (10)

a) Product – What is your product? Are you changing your product? At our café, we sell hot and cold drinks, these include tea, coffee, hot chocolate and fruit juice.

All of these products are Fairtrade. In addition to this, we also have a Traidcraft stall where we sell

a number of different Fairtrade products. The main aim of Fairtrade products available. This year,

we have conducted our customer study and consulted with members of our business team and we

ave decided that, on suggestion from our customers, that we will expand the range of Fairtrade

baking that we do at our café. We plan to do this by researching some recipes that we could try.

Additionally, we are also going to expand the beaded jewellery making part of our business.

b) Price – What price will you sell it at? Have you changed your pricing strategy? Our café has been running for a number of years and therefore, we have established prices for our

products. However, when we purchase new stock, we have to calculate the price that we

bought the products for and then calculate what is a reasonable and fair price to sell the products

for to ensure that we will continue to make a profit on our products.

Miss Ironside

(Director)

Mrs Mylles

(Asst. Director)

Finance Team

Leader:

Emily N

Market

Research

Team

Amanda

Sales Team

Leader:

Ben A

Human

Resources

Team

Leader:

Abigail

Advertising

Team

Leader:

Carla

Depute

Sam

Depute

Finlay B

Depute

Lilly

Depute

Brad

Depute

Fraser m

Kathryn

Ewan

Hannah

Rachel

Anthony

William

Amie

Finaly R

Ben

Sophie S

Michael

Cameron

Grace

Joel

Ben m

Katey N

Heather c

Zara

Frazer g

Kai

Blair

Andrew

Emily r

Salah

Shannon

Darcie

Connor

Bradley

Keir

Brooke

Heather R

Abbie

Sophie f

Isla

Leena

Niamh

Katie p

Jamie

Emily c

Amy

Linzi

Gavin


c) Place – Where will you sell your product? Will you change where you sell your product? Our products will be sold at our monthly café. We have a number of regular customers who come

to our café. This year, we are also planning to hold a Christmas themed café at our parents’

evening and again, this will give us an opportunity to sell our product in another location and to a

wider range of customers.

d) Promotion – How will you promote your product? How will your reach your market more

effectively? We have an advertising team who are responsible for advertising our new products. Also, we have

a market research team who create display board and we can use this to advertise and promote

any new products that we might have at our café.


Section H: People, Profit, Planet

10. How does your business meet the People, Profit and Planet criteria? Please give an example for each criteria. Refer back to Question 7 in your Business Idea Template to help you. (6)

This business idea meets the people criteria as the profits that we will be making from our café and

recycled jewellery, will be used to reinvest into our local and wider community. For example, last

year, we gifted £1000 to our school to purchase new numeracy resources, we also gave the Bishop

of Bangladesh £250 to help the children of Bangladesh and we donated £250 to our local church

as a thank-you for allowing us to use their hall to host our cafes.

At present, our business uses recycled newspaper as bags for the customers to use when they buy

goods from our café. Our business idea for this year is to make our own jewellery to sell, therefore,

we have asked our customers, parents and school friends to hand in any unwanted beaded

jewellery that we can use to make into new jewellery.

Within our local area, new recycling schemes have been introduced and this will allow us to recycle

even more of our litter from the café. We can now recycle all paper, card, plastic, food waste

and cardboard. In addition to this, we ensure that we are being eco-friendly by only using lighting

and heating in our café when we need it. We also only switch on the lights in rooms such as the

toilets when someone is using them. At the end of the café we ensure that all electric etc. are

switched off so that nothing is wasted. These aspects of our business ensure that our business

although benefiting the local community is environmentally friendly and meets the planet criteria.

Over the past three years, our business has been profitable and this has allowed us to invest some of

our profits in helping others less fortunate than ourselves. Our new business idea to add a new

aspect onto our business is to make jewellery from recycled materials. As an initial start-up cost, we

will reinvest £50 of our last year’s profits into buying the equipment and materials that we will need

to make our jewellery. We will then sell each piece of jewellery for £3. Therefore, to break even,

we will need to make and sell 18 pieces of jewellery, anything that we sell after this will make a

profit for our business.

Section I: Financing Strategy

11. How much money do you have to re-invest in your business? Do you need to raise additional capital to develop your business? If so, how will you raise this money? (10) Refer back to Question 8 in your Business Idea Template to help you.

Fairlogie is a successful business that is now in its fourth year. Last year, our net profit was £2397.21.

We used £1500 of this to invest in our school, local church and a donation was given to Bangladesh.

We plan to use a small amount of the profit made from last year to re-invest in our business to take

forward this year’s business development idea. Our business would like to focus on an idea started

by last year’s business group and expand the recycled jewellery making aspect of our business.

The initial start-costs for this will be as follows:

Product Price

Silver Jewellery

Wire

£2.49/6meters

Silver jewellery

fastenings

£2.75/pack of 50

Gold jewellery

wire

£2.70/6meters


Gold jewellery

fastenings

£1.99/pack of 14

Total £10.03

Therefore, the initial set up cost of the jewellery idea is £10.03. This will give us enough materials to

make approximately 20 pieces of jewellery. We plan to sell each piece of jewellery for

approximately £3. Using this, we estimate that we will make around £60 from the first batch of

jewellery made, which will give us a profit of £49.97.

As you can see, the costs for the materials for this venture will be very small in comparison to the

profits that we have available to spent. Also, the profit that we estimate that we will make from

the jewellery will allow us to make a good profit throughout the year as the cost of the materials are

quite low and we will be using donated beads which will be cost free. We will therefore be looking

into other ways that we can invest our money to help others either within our school or within the

local community.


Section J: Financial Management

12. What is your method of record-keeping and how are you going to improve your financial management processes? (5) E.g. We use a spreadsheet. We will aim to update our accounts on a weekly basis.

We record our income and expenditure using a finance book. We also have access to a local

accountant to help us keep our records accurate. She is due to come and work with our finance

team on 23.10.14 to show us how the recording system works and how we should be recording our

finances every month. This year, we hope to make use of the Excel spreadsheet set up with the

help us with the help of our accountant last year, this will make our record keeping more accurate

and efficient.

Every month after our café we will record our finances. We will count up the money that we have

made, prepare it for banking and bank it, recording the money in the bank pay-in book. Our

finance team has a finance folder. The folder has a section for invoices, bank statements, advice

notes and invoices due. Having all of our information organised helps us to make sure we pay all

of our invoices in time. We usually pay our invoices by cheques that we write out ourselves.

Section K: Sustainability and Business Development

13. How will you keep your business running after this school year? E.g. We will mentor new students and pass the business onto them. (5)

After this school year, we will hand our business on to the new Primary 6s. Towards the end of the

year, we will arrange for next year’s Primary 6s to visit our café to help them to understand how it’s

run. It is also hoped that we can do a handover of the business before our summer holidays so

that they can get off to a good start. Being able to hand our business onto a new class every year

helps to bring new customers along to our café. It also helps our café to develop new ideas and

take the business in different directions.

In order to hand over the business successfully, our plan is for each business team to make

presentations to deliver to the new primary 6s. These presentations will tell them all about the

different jobs that they have to do at the café. This will help the new children to understand what

the role of each part of our business is so that they have some information and will be ready to start

running the business as soon as the new school year starts.

14. Where do you see the business in 5 years? E.g. We will grow our product range to include other vegetables and we will expand our market by selling our products in 3 new districts.(5)

It is hard to comment on where our business might be in 5 year due to the nature of its running.

Each year, the business is handed over to the new Primary 6 class and this allows them to take the

business forward in a way that they believe will see it being successful. We hope that our

successors will continue to introduce and expand the range of Fairtrade products that are sold at

the café and continue to raise awareness of Fairtrade amongst the local community.

Appendix (OPTIONAL Bonus Points)


You can use this space to paste or attach any items which support your business plan, e.g. a completed customer survey, a detailed competitor analysis, reports or photos. (10 Bonus Points)

Our Business Teams

PART TWO Financial Plan

This section will be awarded a total of 20 Points. These 20 Points will be allocated as follows:- Section A (5), Section B+C+D (5), Section E+F+G (5), Section H+I (5).

TOP TIP!

You may complete your Financial Plan using your local currency. Please tell us what this is, E.g. Indian

Rupees. In the template we will ask you to convert your TOTALS into US $. You can use this website to do

this: http://www.xe.com. Remember to write down the exchange rate you are using in the box below!

Please add any extra rows to the tables where necessary.

Local Currency used (E.g. Indian Rupees)

British Pound

Exchange rate to US Dollars (E.g. 1 US $ = 59.7 Indian Rupees)

1 US $ = 0.61 pence

Period of time budgeted for (E.g. 3 months)

3 months

Finance Team

Human Resources Team

Advertising Team

Sales Team

Market Research Team

http://www.xe.com/


Section A: Business Development Budget (Estimated)

TOP TIP

Your Business Development Budget is the costs of the additional Equipment and Supplies that you will

need to develop your business. Please note: if you do not need to buy extra equipment or supplies to

develop your business, go directly to Question 2.

1. Please list all your Business Development Costs.

Business Development Equipment

Quantity Unit Cost Total Costs of your Equipment (Quantity x Unit Cost)

N/A

Business Development Supplies/Expenses

Quantity Unit Costs Total Costs of your Supplies/ Expenses (Quantity x Unit Costs)

Silver Jewellery Wire 1 £2.49/6meters £2.49/$4.06 Silver jewellery

fastenings

1 £2.75/pack of 50 £2.75/$4.47

Gold jewellery wire 1 £2.70/6meters £2.70/$4.38 Gold jewellery

fastenings

11 £1.99/pack of 14 £1.99/$3.23

£9.93

In US Dollars $

$17.17

Section B: Income (Estimated)

2. Please list all the products or services that your business will sell during the budget period. Please tell us the amount you think you will sell and the price at which you will sell them.

Name of Product or service

Quantity Sales Price Sales Income (Quantity x Sales Price)

Tea 40 £0.50 $0.81 £20.00 $32.99

Coffee 40 £0.50 $0.81 £20.00 $32.99

Cookies 200 £0.30 $0.99 £60.00 $97.96

Homemade

Fairtrade Cakes 150 £0.50 $0.81 £75.00 $121.83

Divine Chocolate 30 £1.00 $1.62 £30.00 $48.73

Purses 15 £3.00 $4.82 £45.00 $73.10

Bookmarks 30 £1.00 $1.62 £30.00 $48.73

Sparkly

mirrors/notebooks 6 £2.50 $4.06 £15.00 $29.37

Owl necklaces 2 £5.00 $8.12 £10.00 $16.29

Mango

Chutney/Curry

Sauces 10 £3.00 $4.82

£30.00 $48.73

Recycled Sweetie

Paper Bird Houses 2 £10 $16.24 £20.00 $32.49

Sparkly Pens 15 £1.50 $2.44 £22.50 $36.55


Friendship bracelets 20 £1.00 $1.62 £20.00 $32.49

Lovebird Salt and

Pepper Shakers 2 £5.00 $8.12 £10.00 $16.29

The Birches South

Africa Bracelets

15 £2.50 $4.06 £37.50 $60.91

Handmade recycled

bracelets 30 £1.50 $2.99 £45.00 $73.10

Total Income (Add all the ‘Sales Income’ together)

Local Currency £490.00 In US Dollars $ $802.55


Section C: Direct Costs (Estimated)

TOP TIP

Direct Costs refer to materials, labour and expenses related to the production of a specific product or service. Don’t forget that the direct costs from your Business Development Supplies/Expenses in Section A

should be included here too.

3. Please list all of the items you will need to buy in order to make or provide each product or service.

Name of Item Quantity Unit Cost Total Costs (Quantity x Unit Cost)

Product/Service 1 Please tell us what this product or service is here: Recycled Jewellery

Silver Jewellery Wire 1 £2.49/6meters £2.49/$4.06 Silver jewellery

fastenings

1 £2.75/pack of 50 £2.75/$4.47

Gold jewellery wire 1 £2.70/6meters £2.70/$4.38 Gold jewellery

fastenings

11 £1.99/pack of 14 £1.99/$3.23

Product/Service 2 Please tell us what this product or service is here: Teas, Coffees and Traidcraft Stall

Tea 40 £0.02 $0.03 £0.80 $1.29

Coffee 40 £0.02 $0.03 £0.80 $1.29

Cookies 200 £0.18 $0.29 £37.25 $60.14

Divine Chocolate 30 £0.81 $1.31 £24.30 $39.23

Purses (2) 2 £2.13 $3.43 £4.25 $6.86

Elephant notebooks 8 £2.13 $3.44 £17.00 $27.44

Owl necklaces 2 £3.40 $5.49 £6.80 10.98

Mango Chutney/Curry

Sauces 10 £3.00 $4.84

£30.00 $48.43

Sparkly Pens 20 £0.93 $1.50 £18.70 $30.19

Friendship bracelets 10 £0.60 $9.61 £5.95 $9.61

Lovebird Salt and

Pepper Shakers 2 £5.00 $8.07 £10.00 $16.14

Product / Service 3 Please tell us what this product or service is here: Homemade baking

Flour 15 1.00 $1.62 1.00 $1.62

Sugar (Fairtrade) 30 1.00 $1.62 1.00 $1.62

Butter 1 1.50 $2.44 1.50 $2.44

Eggs 2 2.50 $4.06 5.00 $8.16

Icing Sugar

(Fairtrade)

1 1.10 $1.79 1.10 $1.79

Total Direct Costs (Add up all the Total Costs)

Local Currency

£175.38

In US Dollars $ $283.37


Section D: Gross Profit (Estimated)

4. Please calculate your Gross Profit in your Local Currency and then convert it to US Dollars $.

Calculation

Local Currency US Dollars $

Total Sales Income £490.00 $802.55

Total Direct Costs £175.38 $283.37

Gross Profit (Total Sales Income – Total Direct Costs)

£314.62 $519.18


Section E: Indirect Costs (Estimated)

Top Tip

Indirect costs are items that you need to spend money on to run your business. However, they are not

related to the making of your product or service. E.g. Marketing or transportation costs involved in

getting your product to market.

5. Please list all of your Indirect costs Name of item Quantity Unit Cost Total Costs (Quantity x Unit

Cost) First Class Stamps 1 £3.72 $6.04

Hire of

Church/Utilities

N/A Nil Nil

Total Indirect Costs (Add up all the Total Costs)

Local Currency

£3.72

In US Dollars $

$6.04

Section F: Net Profit (Estimated)

6. Please calculate your Net Profit in your local currency and convert this to US Dollars.

Calculation Local Currency US Dollars $

Gross profit

£314.62 $519.18

Total Indirect Costs

£3.72 $6.04

Net Profit (Gross Profit – Total Indirect Costs)

$310.90 $513

Section G: Additional Capital Required – N/A

7. Please calculate how much, if any, additional capital you need to raise to develop your business. Please note: you may not need additional capital if your Business Development Budget is less than the profit you have available to fund your business development.

Calculation

Local Currency US Dollars $

a. Net Profit last year

b. Profit from last year used for other purposes e.g. donation to charity

c. Profit from last year available to fund business development (a-b)

d. Business Development Budget

e. Additional Capital Required ( d-c )


Section H: Pay Back Period (OPTIONAL) – N/A

8. Please calculate the Pay Back Period for your Business Development Budget – N/A

a. Budget Period E.g. 4 months

b. Net Profit

c. Average Net Profit per month ( b / a )

d. Business Development Budget

e. Pay Back Period ( d / c )

Section I: Product Profitability (OPTIONAL) N/A

9. Please complete the following Product Profitability Worksheet for each Product or Service you are selling. We have provided you with two worksheets, however please add additional sheets if necessary. For this section ‘Product’ refers to the Product or Service that you are selling.

Product / Service 1

Name of product

Sales price of product

Predicted Amount of Sales

Total Sales Income of product (Sales Price x Amount)

Direct Costs Quantity Unit Cost Total Cost

Total Direct Costs for Product 1

Profitability Gross Profit of Product (Total Sales Income for Product – Total Direct Costs for Product)

Direct Cost per Product Item (Total Direct Cost for Product ÷ Amount produced of Product)

Percentage Profitability (Sales price for Product – Direct Cost per Product Item) x 100 ÷ Sales Price


Product / Service 2 Name of product

Sales price of product

Predicted Amount of Sales

Total Sales Income of product (Sales Price x Amount)

Direct Costs Quantity Unit Cost Total Cost

Total Direct Costs for Product 2

Profitability Gross Profit of Product (Total Sales Income for Product – Total Direct Costs for Product)

Direct Cost per Product Item (Total Direct Cost for Product ÷ Amount produced of Product)

Percentage Profitability (Sales price for Product – Direct Cost per Product Item) x 100 ÷ Sales Price

Product Profitability Summary Additional Comments: If you have any additional comments about your Financial Plan please put them in here:

CONGRATULATIONS on writing your Business Development Plan! You have completed Stage 2!

Submit NOW!

business development plan template stage 2 · section e: swot analysis top tip! to help you score...

Documents