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Lenders want to understand your business and what you do, below is a example to help you with this section:

 

Hanson Construction Ltd is a building contractor based in Hornton, Slough and Berks. Our main function is to carry out renovations to local residential property such as - Building extensions, bathroom fittings, kitchens etc.

We are dedicated to ensuring that your home becomes every inch the dream home you’re after. We have an eye for detail, a passion for precision and a commitment to quality of finish. Whether you are looking to change your home into an open-plan living and entertainment-styled home, replace old home elements that are less eco friendly and increasing your heating bill, need more space for a growing family or are looking to improve your homes re-sell value, we are equipped to help. We provide a full design & build package from start to finish.

The core duties we perform as part of our service include:

Assessing work sites to determine what needs to be done to complete the requested renovation.
 
Performing various carpentry works including, installing cabinets, hanging doors, and framing rooms.
 
Replacing plumbing fixtures such as sinks, toilets, and faucets.
 
Hanging, repairing, and/or replacing drywall, as needed for new and existing rooms.
 
Installing flooring, including wood floors, carpeting, concrete, and other flooring types.

 

NOTE: Below you will find some examples of business plans as a guidance of what to write, Do not just copy and paste the example text use it to help you write about your business put in your own words. The examples throughout are USA companies to avoid any conflict of interest but the principles and what is needed are the same whether UK or in the USA.

 

 

What are you are trying to achieve?

Lenders want to have a clear understanding of what your short, medium and long term objectives are. Below is one example to help you with this section:

 

YEAR 1 - What are the 2 (or more) main objectives you are looking for your business to achieve.

Focus on meeting my sales targets and keep spending within my budget on all expenditures – both running costs and job costs –so my prices remain competitive in my geographical target customer  catchment area

To build a good reputation locally for top quality workmanship and gain referral business.

Work on a marketing strategy for acquiring new business. Creating new and updating existing marketing materials, our website, and social media platforms

Maintain a regular leaflet distribution program, targeted at our local customer area.

Review mine and other staff skills and qualifications and enrol at remote study Further Education College to gain the additional recognised qualifications

 

YEAR 2-3 - What are the 2 (or more) main objectives you are looking for your business to achieve.

Increase the number of jobs I and my team are able to complete each year, adding manpower (professionally fully qualified tradesmen) to my construction team.

Increase profit margins on each job by learning how to run them more efficiently over time.

Expand the range and type of jobs we can quote for so we can bid for larger jobs

 

YEAR 4-5 - What are the 2 main objectives you are looking for your business to achieve.

To have a fully established business with an excellent local reputation and to be the first call for the public in my local area for the services we provide

To remain price competitive and more importantly than price provide good value for money for our customers

To have sufficient retained profit in cash to invest in the business for its next 5 years of development with a target to double in size.

Below is information on objectives in the form of an objective matrix to help you with setting objectives for your business. 

 

What we need

The lender will want to know how you are going to use the loan you are applying for for example:

 

Marketing - £10,000 (Explain the type of marketing you will use – Google Ads? Facebook? Newspaper? Direct marketing?

Equipment - £5,000 (state the type of equipment you need to buy) Office set-up - £5,000 (furniture etc state what you intend to buy)

Materials -£5,000 (what materials and roughly how much)

Rent - £11,000

NOTE: Do not just copy and paste the example text, use it to help you write about your business by putting it in your own words with your own figures.

What we need

Outline any previous experience, employment or other work that you have done that will help you in your new business.

Employment

15 years with PDC Marketing, last 4 years as marketing manager, having launched many products for clients online and off line

Experience 1

I have 8 years in Marketing & Sales

Why will this help you

This experience will help because I already know how to sell successfully both online and off line to generate new business and grow my business

NOTE: Do not just copy and paste the example text, use it to help you write about your business by putting it in your own words.

What we need

Outline any relevant education, qualifications or training you have completed.

The more lenders know about you and the skills, abilities and qualifications and training the more confidence they have in your business plan. Please list your qualifications and training and educational background.

Business and Management NVQ Level 5

List any transferable skills, talents relevant for your business

Selling door to door – I sold central heating door to door

Qualified first aider – I am first aid qualified and can perform CPR

Health and Safety – I am fully qualified in occupational health and safety

Customer service skills – I worked in retail customer facing for 3 years

NOTE: Below are examples for what others have written for their business plan. Do not just copy and paste the example text, use it to help you write about your business by using the examples and putting this in your own words.

 

What we need

Lenders understand we all have strengths and weaknesses so they want to know how any gaps in your experience and knowledge will be filled

For example you may not have a financial management background and will hire this skill in.

What we need

An important part of any business is an understanding of the type of customers that you aim to target. A clear understanding of who are your target customers and a profile of who is likely to buy from you is a key aspect of the success of any business. Below please outline this information.

You can refer to this article for more information on aquiring this information if you need more help

Identify your Target Market

Age - Specify the age range of your customers 

Gender - M/F - Both

Income £15K-25K

Customer Groups - Families, Sports Enthusiasts 

 

What we need

Expand a little and tell us any specifics about your target group of customers, expanding on the information already provided.

For example: “We are targeting football fans that are season ticket holders and travel out of the UK to follow their team.” Or “We target new mums, who have been career women with well paying jobs prior to pregnancy and are in their late 30's onwards with their first child.”

 

What we need

What problem or need does your product or service meet.

For example: “We help football fans travelling abroad post Brexit with visa, travel, accommodation, getting to the match and safe trouble free entertainment after the game.”

 

What we need

Explain how you price your product or service.

For example: 1 night stay in mainline Europe (not including ticket price) £999 Or Garden maintenance (basic) £25 per hour Or We mark up 50% on the cost price of our products

 

Pricing Strategy

 

 

What we need

An understanding of your competitors is a crucial element of a business being successful, please outline the market research you have done to get the information you need for your 

• Your industry
• Geographical regions you service
• Target customers
• Competitors

Select what methods you have used from the list below.

Industry Research
What research have you conducted to understand and identify your Industry.

Write your answer below using the options you picked from the market reaserch list you used above so for e.g., you might write:

I have done a lot of research into my industry through desktop & online research into the market size, potential growth of the market, possible treats to the industry & challenges and current and up and coming trends and opportunities.

Competitor Research

What research have you conducted to understand and identify your main competitors in your industry?

Write your answer below using the options you picked from the market reaserch list you used above so for e.g., you might write:

I conducted a survey across 1,000 users of my service, from this I received 276 responses. The survey asked the following questions:

Who do you use for your pet grooming service?
What do you like about their service?
What aspects of the service do you feel could be improved?

I was able to list 7 competitor companies that seemed to be used the most in my area.

Regional Research

What research have you conducted to understand the geographical regions you will look to serve and expand into?

Write your answer below using the options you picked from the the market reaserch list you used  above so for e.g., you might write:

Whilst doing my desktop research into the industry I also looked at the same factors region by region and from this research I intend to initially focus on Hertfordshire as this is an area I know well (I live there) but also has strong growth potential.

Customer Research

What research have you conducted to understand your customers?

Write your answer below using the options you picked from the the market reaserch list you used above so for e.g., you might write:

As mentioned above I conducted a survey across 1,000 users of my service, from this I received 276 responses. The survey asked the following questions:

Who do you use for your pet grooming service?
What do you like about their service?
What aspects of the service do you feel could be improved?

This has given me a good base to align my business to what the customers want, I will continue this research on an ongoing basis to keep refining my service to meet customer expectations.

 

Pick the top 3 you will/ are using and describe in more detail what you are doing or intend to do to meet your business objectives for example:

1.  Door drops of promotional leaflets. These will include testimonials from previous customers and photographs of completed projects as well as a full breakdown of our service and contact details, so they can contact us.
 

2.  Referrals from previous jobs. We will seek out referrals by asking happy customers to tell their friends and family of our great services. Word of mouth is an especially effective marketing strategy in our industry. It’s all about trust and people tend to trust their friends and familie's opinion more than anyone else, therefore, by doing a good job we can generate referrals to bring in potential customers.
 

3.  Locally targeted Google and Social Media advertising campaigns. Coupled to a campaign amongst our happy customers to post about their positive experience of using our services on their social media accounts will help bring in new business

NOTE:

Below you will find some examples of what others have written to help you with this section.

 

NOTE: Below is examples of what others have written to describe their business edge you can use this information to help you with this. Do not just copy and paste the example text use it to help you write about your business and by putting it into your own words.

What we need?

 

The lender will want to know about your marketing plan - How you are going to generate sales for your business? 

From the list below select the methods you are or will be using.

Pick the top 3 you will/ are using and describe in more detail what you are doing or intend to do to meet your business objectives for example:

1.  Door drops of promotional leaflets. These will include testimonials from previous customers and photographs of completed projects as well as a full breakdown of our service and contact details, so they can contact us.
 

2.  Referrals from previous jobs. We will seek out referrals by asking happy customers to tell their friends and family of our great services. Word of mouth is an especially effective marketing strategy in our industry. It’s all about trust and people tend to trust their friends and familie's opinion more than anyone else, therefore, by doing a good job we can generate referrals to bring in potential customers.
 

3.  Locally targeted Google and Social Media advertising campaigns. Coupled to a campaign amongst our happy customers to post about their positive experience of using our services on their social media accounts will help bring in new business

NOTE:

Here are some examples of what others have written to help you with this section please do not just copy and paste the example text use it to help you write about your business by putting it into your own words.

 

What we need? 

Please provide details of two key suppliers or key relationships that are important to running your business, if applicable

Provide the following details for each of 2

• Relationship
• Service Provided
• Key terms of the relationship

What we need

How will you manage your loan repayments if your business doesn't go to plan?

Your back-up plan should highlight:

What your repayments are
How you would manage your repayments in the case of an unexpected event
Why you feel this is a realistic plan
For example:

My Back-up plan

“We are looking to borrow £25,000 which we aim to repay within 5 years.

At a fixed interest rate of 6% per annum the interest due over 5 years would be £3,999.20 making our total repayment £28,999.20.

To fully repay the loan within 5 years I would need to make monthly payments of £483.32 which works out at £5799.84 a year”

 

“To pay this I have a good reputation and will be able to get a job in the industry that will pay me enough to meet the loan repayments”

Or

“I will rent out my home and move back in with family while working to pay off the loan”

Or

“My family will help me with any repayments if my business is not a success”

Or

"I will continue to work part-time or full-time whilst running my new business and thus have the capacity from the employed income to cover the loan repayments.

Or

"I am working full-time to make my business a success but in the event it does not succeed you can see from my CV (attached) I have the job history, skills and experience to easily find well paid employment to cover the repayments.

Or

I have assets I can sell. List
(Business or personal assets - the latter could be in the form of illiquid assets such as property or stocks & shares/pensions.)

 

 

Additonal Information 

If you have any other information you wish to add then you can do so below, thank you for completing your business plan form, you are another step closer to getting the money your business needs.

What we need

You can upload supporting evidence in this section. Any supporting evidence you provide should support and strengthen the claims you have made and help our loan assessment team feel more confident about lending to you.

Please note, this is not a mandatory field but your Business Adviser may request additional supporting evidence once they have reviewed your full application.

 

Upload you supporting evidence here

 

Types of supporting evidence

• Any research you’ve carried out that supports what you have said in this plan
• Copy of online research’s prices, product or material costs, competitor information,
• Your website URL (link to your website)
• Supplier information
• Example of the equipment you hope to buy
• CV’s of you or your staff

And anything else that you can provide that may prove positive towards your preparation for business success