The Business Plan: The Devil Is In The Details (Part 2/6)

So back to the Business Plan...

 

      Details

• You will need a Business Name (even in a working title)

• Try generating one here: Business Name Generator 

• It can be helpful to use the internet to see if your intended name is already in use (and where in the world) Avoid anything that could be seen as stealing another companies identity. You cant for example be Apple and sell Mobile Phones.



Apple watch anyone?

     Don't forget...

• A Contact Name
• A Business Address
• Social Media platforms, for example Facebook, Twitter, Pin Interest, Google+, Instagram (some research is required here to see which platforms will work best for your business idea)

 

• Legal Status (you will have to know what you have chosen and why)
• Name of Owners
• Telephone contact details
• Email Address
• Start Date (for when trading shall commence)

 

      Executive Summary

• The Executive Summary is the whole plan, but shorter
• The Summary should be a vision of what you want to achieve
• In pages aim for half a page to one page depending on the complexity of the business
• Write the Executive Summary Last (by the time the rest of the plan is complete you should know your business idea inside out and the summary will be easier to write)

Example Executive Summary

Mugs is a unique spot for not only commuters but also for locals and coffee lovers. Our café introduces a warm and comfortable atmosphere for people to relax and take a sip of our delicious coffee in a setting designed with elements of Scottish traditional art and music.

The aim of our business plan is to open a unique Scottish Artesian Coffee House that supplies up to 5 different roasts and blends from around Scotland that provide a unique taste and coffee experience. It will include (the feel of home) baking, cakes and sandwiches from locally sourced produce and a ‘light’ menu for brunch/lunch type food based around traditional Scottish fayre which will be our Unique Selling Point.

Our unique selling point is to provide and supply Scottish produce (only) of both a unique blend of coffee and food from a uniquely designed coffee house in the iconic Heilanman’s Umbrella in Glasgow, which is known for its historic import to Scotland and it's Highland heritage, direct to our customer demographic and local business community while supporting the local economy.

On a highly visible and high footfall corner site on the junction of Hope Street and Argyle Street beside Central Station the premises are fitted to a very high standard and comprise a large open plan ground floor seating/ serving area with disabled toilet, additional mezzanine seating area with ladies & gents toilets and store.

As you have probably gathered business plans can become quite wordy!, more of the Business Plan explored next time in Part 3

Looking for more content? A short YouTube Video