business plan template Essay example

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The Business Plan

You’ve got a business idea. You’ve decided to start a business.
You want to get going.

But there’s a lot more to a good business than a good idea.
You need to think things through to maximise your chances of success.
Are you the right person to run the business? Will customers like your product? A business plan will help you turn an idea into a business. It needs you to think through all the parts of your business to plan how everything will work. It will take a few weeks to write if you’re going to do it properly. Some parts will be easier to complete than others. Stick at it because it’s not the final document that’s important, it’s the process. Although you want to have a good plan when you’re done, an OK plan is better than no plan.

The Prince’s Trust Business Plan Pack

The best business plans aren’t long and complex; they explain only the most important information – what you want to achieve, how you will get there and the things you need to do along the way. It’s best to tackle a business plan in small chunks. The Prince’s Trust Business Plan Pack can help. This is The Business Plan divided into sections to help you develop your business idea. You can use the information in The Guide to help you complete the sections. Some of the sections of The Business Plan have tables to record the financial parts of your business. The tables are also available in MS Excel format and the sums in these are automatic.

The Prince’s Trust Enterprise Programme

The Prince’s Trust has helped many young people to complete their business plans and start their own businesses. If you are aged 18–30 and unemployed or working fewer than 16 hours per week, then we might be able to help you. We have offices throughout the UK and in each there is a team of Enterprise Programme staff.

To take part, you need to be interested in self employment and have a business idea that you would like help to test and explore. The programme can then help you to see if your business idea will work and whether self employment is right for you. If through this process you find out it is, the programme can offer mentoring support and, if you really need it, financial support to start your business. However, if self employment turns out not to be the right option, the programme can offer support to secure other goals in employment, education, training or voluntary work.

We can’t guarantee that your business will work or that we will be able to offer you money, but if you are up for a challenge and want our help to explore your business idea, get in touch and come and meet us.

Getting started
Whose plan is this?

Business and owner details

Business name

Owner(s) name

Business address and postcode

Business telephone number

Business email address

Home address and postcode (if different from above)

Home telephone number (if different from above)

Home email address (if different from above)
Section one
Executive summary

1.1 Business summary:

1.2 Business aims:

1.3 Financial summary:

Section two
Owner’s background

2.1 Why do you want to run your own business?

2.2 Previous work experience:

2.3 Qualifications and education:

2.4 Training:

Details of future training courses you want to complete:

2.5 Hobbies and interests:

2.6 Additional information:

Section three
Products and services

3.1 What are you going to sell?

 a product
 a service

3.2 Describe the basic product/service you are going to sell:

3.3 Describe the different types of product/service you are going to be selling: