BSBOPS601 - Business Plan Template.v1.0

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Lonsdale Institute *

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BSB60420

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Business

Date

Apr 3, 2024

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[Insert your business logo] [Enter your business name] Business p lan Date: Select a date [Use the italicised guidance throughout this template for help completing your business plan. You may wish to remove this text before you finalise your plan.] Download the latest version of this template from www.business.gov.au/businessplan

Key details Registration details [Find out about business registrations and choosing a business structure .] Business name Registered or proposed name. Date registered Select date State registered in Business structure Australian business number (ABN) Australian company number (ACN) If a company. Licences and permits Australian, state and local. [Examples: disposal of waste, safe food preparation] Contact details Name Phone Mobile Email Address Online and social media details Address/details Website Download the latest version of this template from www.business.gov.au/businessplan 2

Download the latest version of this template from www.business.gov.au/businessplan 3

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Contents Key details ............................................................................................................................................. 2 Registration details ............................................................................................................................ 2 Contact details ................................................................................................................................... 2 Online and social media details ......................................................................................................... 2 The business .......................................................................................................................................... 4 Plan summary .................................................................................................................................... 4 Our why ............................................................................................................................................. 4 Our vision .......................................................................................................................................... 5 Our mission ........................................................................................................................................ 5 Operations ......................................................................................................................................... 6 Stakeholders ...................................................................................................................................... 8 The market .......................................................................................................................................... 10 The problem .................................................................................................................................... 10 Our solution ..................................................................................................................................... 10 Our target market and size .............................................................................................................. 10 Advertising and promotion .............................................................................................................. 11 The competition .............................................................................................................................. 11 Pricing strategy ................................................................................................................................ 12 SWOT analysis ................................................................................................................................. 12 Risk management ................................................................................................................................ 14 Risk assessment ............................................................................................................................... 14 Insurance ......................................................................................................................................... 14 Succession plan ................................................................................................................................ 15 Laws we’ll need to comply with ....................................................................................................... 15 Goals and actions ................................................................................................................................ 16 Goals for next year .......................................................................................................................... 16 Goals for the next 3 years ................................................................................................................ 16 The finances ........................................................................................................................................ 17 Finance needed ............................................................................................................................... 17 Sources of funding ........................................................................................................................... 17 Current finances .............................................................................................................................. 17 Budget Targets ................................................................................................................................. 17 Profit and loss forecast .................................................................................................................... 18 Cash flow forecast ........................................................................................................................... 19 Download the latest version of this template from www.business.gov.au/businessplan 4

The business Plan summary [Complete this section last so you can summarise information from the rest of your plan.] What our business does The products or services we sell. Our target market Our unique selling point Our business goals Our history Industry experience, major achievements. Our why [Consider why you started this business. Why are you personally invested in this business idea?] The inspiration behind the business. [Example: To be the go-to supplier of high quality, sustainable coffee in Australia.] Download the latest version of this template from www.business.gov.au/businessplan 5

Our vision [Consider what you want your business to accomplish in the long term. What are your ultimate goals? Be passionate, powerful and inspiring.] Our hopes, dreams and where we aim to go. [Example: To be the go-to supplier of high quality, sustainable coffee in Australia and reduce environmental impacts through promoting sustainable shopping practices.] Our mission [Consider the purpose of your business and define what it does for your customers. What do you do, how do you do it and why do you do it?] Who we are and why we exist. [Example: We supply high quality, sustainably produced coffee for all coffee lovers to enjoy while minimising their environmental impact.] Download the latest version of this template from www.business.gov.au/businessplan 6

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Operations Products and services What we’re selling. Product/service Description Unit price/labour Charge out Rate (incl. GST) $ $ $ Download the latest version of this template from www.business.gov.au/businessplan 7

Production How we produce our products or services and where we get our main supplies from. Download the latest version of this template from www.business.gov.au/businessplan 8

[Example: Intrinsic Coffee sources premium beans from Bean There Growers. Our packaging is printed by an external provider. We process and package beans on site with strict quality controls in place.] Download the latest version of this template from www.business.gov.au/businessplan 9

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Sales and distribution channels The channels we’ll use to distribute our product or service to customers. Channel Used for Details [Example: Selling our coffee beans internationally online.] [Example: Beans Online account for 20% of sales.] Download the latest version of this template from www.business.gov.au/businessplan 10

Digital technology [Learn about selling online and digital options to improve your business efficiency and profitability.] Technology we plan to use for our business. Download the latest version of this template from www.business.gov.au/businessplan 11

[Examples: online sales, accounting software, customer database] Information management [How do you collect, store and use customer and stock information? Do you back up this information? How do you do this and how often? Make sure you comply with industry standards and legislation .] How we collect, store and use customer and stock information. [Examples: online sales, accounting software, customer database] Assets Premises [Describe your business premises, the location, facilities and whether you own or lease them. Visit our Business premises page for more information.] [Example: We own a café shopfront in the Sydney CBD. The location has significant foot traffic and visibility.] Stock and inventory [What stock do you have? Describe how you store and manage stock. See our managing inventory page for more information.] [Example: We have 300 kg of coffee beans. We store stock onsite and it is replaced every 2 months.] Equipment Equipment Date bought or leased Cost ($) [Examples: computers, machinery, vehicles] Select date Select date Select date Select date Download the latest version of this template from www.business.gov.au/businessplan 12

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Intellectual property [List any intellectual property that you have registered or need to protect. For more information, check our intellectual property guide.] [Example: Intrinsic Coffee logo is registered as a trade mark.] Stakeholders Our staff [List your existing staff and any staff required for your business. Include yourself and list any major achievements and relevant business experience.] Role Name If role is filled. Skills and experience [Examples: owner, manager, casual employee] Sources of services, advice and support [ Sources of advice and support for your business could include a business mentor, your accountant, a valued supplier or even an industry association. External people or organisations that provide support to our business. Support type Name Skills and experience [Example: Accountant.] Skill and staff retention strategies [Read about developing and maintaining staff skills .] Download the latest version of this template from www.business.gov.au/businessplan 13

How we keep our staff working for us and maintain their skills. [Example: The manager regularly checks in with staff, all staff attend monthly team meetings, we offer free courses to maintain staff skills and involve staff in our professional development planning process.] Download the latest version of this template from www.business.gov.au/businessplan 14

The market The problem [What issues do your potential customers face in the market? Is there a lack of your service type in a particular suburb? Is the product supplied by other businesses expensive?] The market problem/s that we aim to solve for customers. [Example: There’s an overwhelming choice of coffee blends in the market. It’s hard for customers to know what they’re buying.] Our solution How our business solves the problem – our unique selling point. This is how we’ll succeed in the market. [Example: Intrinsic Coffee sells a small range of high-quality coffee. We don’t use fancy names for our blends, so people know what they’re buying.] Our target market and size [Not everyone will want your product or service, so make sure you research the market and have a clear picture of who you’re targeting. This helps focus your marketing efforts and improve your chances of success. Describe your targeted customers for example by gender, age, income, location or education.] The group of customers that we aim to sell our products or services to, and the quantities of the demand. [Example: Our products are targeted at adults over 30 with a medium to high disposable income in Australia. The size of the market is estimated to be around 200,000 people.] Download the latest version of this template from www.business.gov.au/businessplan 15

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Marketing strategy [Choose channels that suit your target market and budgetary requirements. For example, social media use varies across different age groups. Learn about choosing the best channels to communicate with your customers .] The channels we’ll use to communicate with our target customers. Channel Used for Details [Example: Promotion prior to launch.] [Example: We’ll use regular Facebook posts to promote the product and offer discounts to our first 20 customers.] The competition The top 3 businesses we’re competing against, what they do well and not so well. What we’ll do differently to succeed in the market. Competitor name [Example: Sludge International Coffee.] Strengths [Example: Low product prices.] Weaknesses [Example: Low quality product, unsustainable production.] What we’ll do differently [Example: We only sell high quality, sustainably produced beans.] Download the latest version of this template from www.business.gov.au/businessplan 16

Pricing strategy [Explain your pricing strategy and why you chose it.] How we set prices for our products/services. [Example: Our coffee beans are sold at cost of production and distribution plus a mark-up of 50%. This ensures we remain competitive and make a profit.] SWOT analysis [ Learn how to complete a SWOT analysis for your business.] Our business strengths, weaknesses, opportunities and threats. Strengths What’s good about our business. [Example: Premises are in a high traffic area with good visibility.] Weaknesses What’s not so good about our business. [Example: The business has no business website and there are high rental costs.] Opportunities External factors we could take advantage of. [Example: The market is growing rapidly.] Threats External factors that could cause problems for us. [Example: A new competitor could target the same market.] Download the latest version of this template from www.business.gov.au/businessplan 17

How we’ll address each weakness and threat [Example: We’ll investigate alternative lower cost premises with good visibility.] Download the latest version of this template from www.business.gov.au/businessplan 18

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Risk management Risk assessment [Learn about types of risk that could affect your business and how to assess and manage risks to your business. ] Risks (internal and external) that could impact our business and what we’ll do to protect it. Risk/impact description Likelihood Contingency plan - What we’ll do to reduce/eliminate this risk [Example: Pandemic causes closure of our retail outlet.] [Example: Strengthen online sales/e- commerce.] [Example: Computer theft results in loss of financial records.] [Example: Use cloud storage for business records.] Insurance [If you’re not sure what you need, visit our Business insurance page for more information.] The insurance we have or need. Insurance type Details Download the latest version of this template from www.business.gov.au/businessplan 19

Succession plan [ What will you do if you decide to step down from your business? Do you have a plan in place in case something happens to you? Who would you want to take over your business? Consider formally documenting a succession plan for your business.] [Example: If the current owner decides to step down, the position will be offered to other business partners. The current owner will be paid out for their share and step down to an advisory role.] Laws we’ll need to comply with [List the laws that impact on your business including laws specific to your industry . This includes permits and licences.] [Examples: fair trading/consumer laws, employment laws, state licences] Download the latest version of this template from www.business.gov.au/businessplan 20

Productivity and Performance Targets [ Learn how to set goals that will help your business grow.] Goals for next year [Enter a goal] [Enter a goal] [Enter a goal] Actions to achieve goal  [Action]  [Action]  [Action]  [Action]  [Action]  [Action]  [Action]  [Action]  [Action] Due date Select date Select date Select date Who’s responsible Goals for the next 3 years [Enter a goal] [Enter a goal] [Enter a goal] Actions to achieve goal  [Action]  [Action]  [Action]  [Action]  [Action]  [Action]  [Action]  [Action]  [Action] Due date Select date Select date Select date Who’s responsible Download the latest version of this template from www.business.gov.au/businessplan 21

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The finances [You may find the Australian Taxation Office’s small business benchmarks useful to compare your performance when completing this section.] Download the latest version of this template from www.business.gov.au/businessplan 22

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Finance needed [Delete this section if you aren’t seeking finance.] How much money we need and what it’s for. [Example: We are seeking a loan of $30,000 to purchase and install an automated coffee packaging machine.] Sources of funding [Describe sources and amounts of funding that your business has received. Include your own investment in your business.] [Example: We have received a $X loan from Business Bank. There is also $X of self-investment.] Current finances [Summarise your business performance over the last financial year in terms of cash flow, profit/loss and balance.] How our business performed financially over the last financial year. [Example: Over the last financial year we have had a positive cash flow of $X, out net profit was $X and our assets are worth $X.] Budget Targets There are four major budgeting techniques used by businesses, you can modify the example below to suit one of these techniques. A summary of our budget targets for the next 3 years. [Year 1] (Current) [Year 2] [Year 3] Total Revenue $ $ $ Total Expenditure $ $ $ Net Profit $ $ $ Download the latest version of this template from www.business.gov.au/businessplan 23

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Profit and loss forecast [You can use our profit and loss template , your own accounting tools or ask your accountant for help.] Our forecast profit/loss for the next 3 years. [Year 1] [Year 2] [Year 3] Gross profit/net sales $ $ $ Total expenses $ $ $ Net profit/loss $ $ $ Download the latest version of this template from www.business.gov.au/businessplan 24

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Cash flow forecast [You can use our cash flow statement template , your own accounting tools or ask your accountant for help.] Our forecast cash flow for the next year. Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Monthly cash balance $ $ $ $ $ $ $ $ $ $ $ $ Closing balance $ $ $ $ $ $ $ $ $ $ $ $ Download the latest version of this template from www.business.gov.au/businessplan

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BSBOPS601 - Business Plan Template.v1.0

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