During last Module I made a starting point and planted a seed for a clothing company I want to develop when I finish University. So far me and another student from the college want to both invest money into a boutique skate brand thats Unique selling point will be providing all artwork thats used on garments additionally to the clothes.
I've chatted to Fred and I'm still seeking more information but our plans our to stay in Leeds for the first 6-12 months of setting up, completing a Fellowship at the University and saving on printing costs by using the facilities available. We have a creative Advertiser, Marketer, accountant but still need to seek out other investors/creatives to work with. Once living in Leeds for the first year is over, we then intend on moving down to some premises In Brighton where we will be able to have our own printing studio. My partner in the business will be the main investor and we plan to go 50/50 on all rent and costs for the screen printing studio we plan on renting. The other roles needed in the business would be employed on a day to day basis for certain jobs that needed doing.
A good business plan will contain:
-an initial executive summary, summarising the detail of the business proposal
-a written overview of the business' aims
-its product or service
-management team
-financial forecasts and appendices, such as the CVs of key management members, market research data or technical product information.
The body of your business plan should cover several areas in detail.
Give the reason for the business being established - include business goals, for example, whether ambitious growth is desired or a regular, steady trading level.
Explain what your business will do in simple terms, highlighting any features that set it apart from rivals.
Include market and competitor information, outlining what part of the market you are targeting, key competitors and what differentiates you from them.
Financial forecast
Think about your sales and marketing strategy, include information on how the product or service will be priced, channels to market, advertising and marketing plans.
Details of key personnel and their relevant experience are also important, as is operational information like office location, special equipment and expected employee headcount.
Business plan essentials
Management background
Business aims - what are your future plans?
An assessment of the competition
Research to back claims and forecasts
State the financing you need, based on your financial forecasts.
Include details of any finance provided by the founder or management team and indicate the key risks to the business and any mitigating action you can take.
Your plan should also include a sales forecast, cashflow forecast and a projected profit and loss account for up to five years' ahead.
Larger businesses should also draw up a projected balance sheet.
The figures used must be reasonable - avoid being over optimistic. The involvement of a qualified accountant in preparing these forecasts is recommended.
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