1. Business Planning

2. Objectives ALL Pupils will know what a business plan is and why it is important MOST Pupils will know what is included in a business plan SOME Pupils will know how a business plan can be used

3. What is a business plan? Product / Service Finance to start Marketed Market Research (Demand)

4. Task: Discuss in pairs why a business plan is created?

5. Why is the plan important? Planning will help the business succeed Targets set (can measure success) Can help stop failure Can help achieve success Can judge whether idea should go ahead

6. Contents Business Plan Idea People Market Research Marketing Production Finance

7. Idea This is obvious but there needs to be a starting point. NEEDS TO BE PRACTICAL Contents

8. People Who are they Experience Persuade people to invest Contents

9. Market Research To back up idea need research to show customers interested Show results, to show Customers will use If not interested, New idea needed Contents

10. Marketing Decide how product / service marketed Location and how reach customer, reasons given Detail of product – ranges, specialise How business advertised, sales promotions Prices charged – pricing strategies Contents

11. Production How product is made Quality control Guarantees offered IMPORTANT New business not Sure on quality Persuade customers to buy Contents

12. Finance Cost of setting up the business included Where finance will come from SavingsBank Contents

13. How to use the plan Persuade others it has been carefully thought out Bank will judge if take risk and lend money Evaluate an idea Majority of times only predict a year Plans can be changed New plan made if new product or service

14. Task Try the assessment activity

15. Learning Objectives ALL Pupils know what a business plan is and why it is important MOST Pupils know what is included in a business plan SOME Pupils know how a business plan can be used