B: i) Business Plan

A business plan is an essential to anyone going into/starting a business of any type.  It should be prepared by the person/individuals who will own and be responsible for the day-to-day running of the business. The business plan is a series of documents which express, in print, your business ideas in detail. It also explains how you will achieve your aims/goals, and it needs to be of a professional appearance.  It can also serve as a constant reminder to you of your plans, and can be amended, as appropriate, over time. 

If you need to borrow money for your business, any lender would need to see your business plan.

You can obtain assistance, from those suitably qualified through training or experience, in completing this, but if someone else does the work without your active input - you may not fully understand the detail.  You will need to, if it is to be your business, or you are lending someone else the money to do so.

A business plan usually consists of several parts, and is generally as follows:-

1. Market research
2. Your proposals/details
3. Cash flow forecast

Detailed questions...

You will now need to research and provide detailed answers to the following questions.  This may seem to be quite daunting at first, but is necessary for you to investigate every aspect that may have a bearing on the future conduct of your business.  Time spent in good preparation can only be beneficial.  Many of the items mentioned may not be applicable to your business, but if they are and you have ignored them, it could prove to be a very costly omission on your part, and not just in terms of finance (which may well be the case), but in time and focus, which could place the business you have spent so much time establishing/running at risk.

All these sections will need to be completed for your business plan:

A. The Type of Business.

The type of business you will be running & the product/services you will be selling.

B. The Premises

Where are you going to operate from?

Location of the building

• Is it on the High Street, the Suburbs, the main thoroughfare, a Council Estate, a Trading Estate, at Home? 
  
• Check on possible future developments. 
  
• Visit the proposed site on different days, weekends, different times to see how the business may be affected by traffic/parking/people flow etc.
  
• Will you require planning/ building permission?  Check if in any doubt, because it could prove very costly if you do not get the correct permissions before you start.
  
• Is it in an appropriate site for your business? 
  
• Does its surroundings project the image you want?
  
• Are you or your neighbours complimentary?  Does it matter?
  
• Are there any potential nuisances to your business, noise, smells etc
  
• Is passing trade important?  Can it reach you?
  
• Are you located by/near businesses which may contribute to the success of yours?

Access

• Is access suitable for your business?
  
• Is it wide/long enough to take your delivery vehicles, can they get to your premises? (Planners may not be happy if large vehicles have to reverse off a main road into a small opening, blocking the road) 
  
• Any restrictions on access/ timings for deliveries or collections?  Can you take forklift deliveries? 
  
• Can you handle bulk drops? 
  
• What restrictions apply, if at all, on deliveries/collection vehicles?
  
• Any yellow, zigzag lines, road junctions, traffic lights/crossings/schools
  Hospitals which might interfere?  
  
• Location of car parks?.  Do time limits apply?
  
• Where will customers/staff park? 
  
• Is the area secure? 
  
• Is it convenient for your customers?
  
• Is it safe for any customers/member of staff to walk to alone at day/night?
   
• Public Transport / Trains/ Buses/ Park & Ride/ Pedestrians/ Parking for Customers/ Staff 
  
• Are these a requirement? are they conveniently located/accessible?
  
• Are the doors to your stock room wide enough, do you need a lift?
  (If fitted is it capable of carrying your stock, both weight & size)?
  
• Is the floor of your stockroom strong enough to carry the weight of your stock? 
  
• Can your premises easily be made secure?
  
• Are you able to fit any additional equipment required, or is permission easily obtainable if required. 

Further considerations for finding premises: Surveyors/Builders/ Extraction/Ventilation equipment, Air conditioning, Lift Installers, CCTV, Security Grills/Shutters/Equipment/Emergency Lighting, Burglar Alarms, Fire Extinguishers/Blankets/Equipment/ Storage Solutions

Position within the building

• Is your location suitable for your customers/staff?  Do you have accessibility/facilities to comply with the recent disability laws (changed 1st October 2004)?
• Will the sun have an adverse effect upon your business/stock/staff, if for example you are south facing. (A small village flower shop has recently had to install a glass fronted refrigerated display cabinet along one wall, because the sun was causing her cut flowers to wilt very quickly!)
• Disability access experts

Signage and Entrance

Your premises should be capable of advertising your business.  Can you put up signs, on windows or the building, to advertise yourself. 
Do any planning /covenant/ lease/ restrictions apply?

Floor Area

Is the floor area suitable for your needs? 
Do you have the room for the layout you require?
Can it take all the equipment you require for your business?
Is it flexible/adaptable enough for any potential changes/expansion you may require
Office Suppliers/ Storage Specialists/ Shopfitters

Flooring

Is the flooring strong enough for your requirements? 
Is it practical for your requirements? (Catering establishments need a surface which is impervious, and which can easily be mopped/ cleaned) 
Does it portray the image you want for to your customers?
Flooring contractors

Décor/Lighting/Music

The correct décor, lighting & music can enhance your image, make customers more susceptible to purchase, make the premises a happier place to work, and be very beneficial to all.  If it is not well done, it can have the opposite effect!

Mains Services

Is there sufficient electricity (including three phase)/gas/water/drainage available for your foreseeable needs?  Can you easily install additional supplies, if necessary?
Electricity/Gas/Plumbing/Drainage Specialists

Rateable Value & Rates.

You will have to pay rates on any building you trade, with the possible exception of your home. 
A change of use could result in a change in the rates you pay.  You will need to check this with your local authority. 
Rating valuation experts.