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Business Plan

Presented by: Gemma Lakin

29 Hillam Road Wallasey CH45 8LD

07972803020

Business Advisor: Jan Kalitkin 07929528021

Business Plan Presented by: Gemma Lakin 29 Hillam Road Wallasey CH45 8LD 07972803020 Business Advisor: Jan

Table of Contents:

  • 1.0 Executive Summary

  • 2.0 The Business

    • 2.1 The Background

    • 2.2 Mission

    • 2.3 Aims & Objectives

    • 2.4 Legal Structure

    • 2.5 Products and services

  • 3.0 The Market

    • 3.1 Market research

    • 3.2 SWOT

    • 3.3 Unique Selling Point

  • 4.0 Marketing & Promotion

  • 5.0 Business Operations

    • 5.1 Business Premises

    • 5.2 Equipment & vehicles

    • 5.3 Staffing levels

    • 5.4 Legal aspects

  • Insurances

    Health & Safety

    Environmental Policy

    Essential Licences

    Tax

    Administration & records.

    • 6.0 Finances

      • 6.1 Start up requirements

      • 6.2 Marketing Costs/Plan

      • 6.3 Pricing/Sales Forecast of service/product

      • 6.4 Cashflow Forecast/Profit & Loss/Balance Sheet

  • 7.0 Appendices

  • Business Advisor: Jan Kalitkin 07929528021

    Table of Contents: 1.0 Executive Summary 2.0 The Business 2.1 The Background 2.2 Mission 2.3 Aims

    1.0

    EXECUTIVE SUMMARY

    Gemma intends to provide a professional service on a full time basis as a Illustrator. She will work on Pet Portraiture and is fully trained and experienced in the Graphic Arts.

    The business will be profitable within its first year of trading and will be in the position to pay a working wage to its owner. Residual profit will be invested back into the business to support its growth.

    Gemma will work from Home in her office space which already provides some of the required equipment.

    **She is seeking additional funding in order to meet the costs of additional business start up expenditure.**

    **Year 1 turnover is expected to be in the region of £ ..

    **

    ………………

    Business Address: 29 Hillam Road, Wallasey, CH45 8LD

    Business Advisor: Jan Kalitkin 07929528021

    1.0 EXECUTIVE SUMMARY Gemma intends to provide a professional service on a full time basis as
    • 2.0 THE BUSINESS

    • 2.1 The Background Gemma has historically been a student undertaking a Degree in Graphic Arts and Design, where she developed her skills, experience and passion in Illustration. She also worked on pet portraiture in her spare time, developing her unique drawing style and an experience of providing a service. It has been an ambition of Gemma’s to be in a position to be self-employed and to be creative on a commercial basis. **Having completed this research, Gemma is now preparing to embark on registering herself as self employed and **

    ...

    • 2.2 Mission

    The business will provide an honest, professional service to the local community in providing Pet Portraiture. Reliability is key to such a business when dealing with the Art and Design and commercial sectors. Gemma’s skills and expertise allow her to meet customer's requirements and produce work of a high standard.

    • 2.3 Aims and Objectives

    Sales:

    • 1. To price my services realistically rather than trying to undercut all other providers. My clients appreciate quality and value.

    • 2. Continue to develop new customer base through quality referrals.

    • 3. To develop my sales and marketing skills and to incorporate appropriate promotional strategies into my business.

    Finance:

    • 1. To build a steady income through engaging and retaining a core client base.

    • 2. To maintain good quality records for HMRC and business management purposes. HMRC can provide training courses to cover these needs.

    Business Advisor: Jan Kalitkin 07929528021

    2.0 THE BUSINESS 2.1 The Background Gemma has historically been a student undertaking a Degree in

    Marketing & Customers:

    1.

    Positive advertising – leaflets, posters, business cards showing examples of work and indicating prices

    2.

    Customers – Pet owners, relatives of pet owners for gifts

    3.

    Referrals from satisfied customers – pass on contact details

    Quality:

    1.

    Flexibility - be able to meet customer's deadlines

    2.

    Satisfied customers – meeting and exceeding their expectations.

    Others:

    1.

    Keep on top of books/finance - take courses in NI and tax, book-

    keeping

    2.

    Update new skills – **

    2.4

    Legal structure

    Gemma will operate as a sole trader.

    2.5

    Products and Services

    Gemma will provide a service for Pet Portraiture to private clients.

    Services will be based on client need and market demands,

    thereby

    changing to meet differing requirements from client to

    client.

     

    The diversity within the services offered will also support the seasonality of some aspect of my services and provide year round income.

    3.0

    THE MARKET

    3.1

    Market Research

    Customer profile:

    Competitor profile:

    Examples of local providers include:

    Business Advisor: Jan Kalitkin 07929528021

    Marketing & Customers: 1. Positive advertising – leaflets, posters, business cards showing examples of work and

    +/-:

    Free estimate; Portfolio of work;

    Supplier research:

    Market placement conclusions:

    3.2

    SWOT

    Strengths

    Weaknesses

    Qualifications Enthusiasm Young Big market to aim at

    Lacking advertising skills Lack of confidence Access to start up finance

    Business Advisor: Jan Kalitkin 07929528021

    +/-: Free estimate; Portfolio of work; Supplier research: Market placement conclusions: 3.2 SWOT Strengths Weaknesses Qualifications

    No premises Historical customers Presence on social media

     

    Opportunities

    Threats

    Fulfil needs of customers not currently being met Chance to expand and to create other products

    Competition Personal illness may affect my ability to run my business on a full time basis Under estimating jobs

    • 3.3 Unique Selling Point Gemma is well placed to be able to provide a comprehensive service that is not easily matched by many of his competitors ...

    • 4.0 Marketing & Promotion Initial marketing activity will focus upon distributing business

    cards locally. This activity will initially be focused upon

    ...

    general

    public homeowners within a local geography to Gemma's home

    base. Additionally Sam will make direct contact with they may already have access to ...

    ...

    Whilst

    The local press will be used for placing adverts, although this is not anticipated to be a weekly occurrence partly because of cost and partly because it is not the primary source of information used by prospective customers.

    Gemma will make use of leaflets for local distribution as these are relatively low cost to produce and can be easily distributed to local target businesses and residents. She will use local businesses as an opportunity to support and advertise her services, such as Vetinirary surgeries, Dog groomers and Pet shops etc. She will also attend craft and art fairs in order to sell and advertise her business.

    In addition to this, Gemma will set up a website and accounts on social media websites such as Facebook, Twitter. She will also advertise and sell her products through the website Etsy. These will prove useful in order to more fully represent Gemma’s portfolio of work as the business progresses.

    Business Advisor: Jan Kalitkin 07929528021

    No premises Historical customers Presence on social media Opportunities Threats Fulfil needs of customers not currently

    5.0

    BUSINESS OPERATIONS

    • 5.1 Business Premises Gemma will operate from her home address at 29 Hillam Road, Wallasey, CH45 8LD. This will act as Gemma's studio and administrative base. **Gemma will work approx

    **

    ...

    • 5.2 Equipment and vehicles Capital equipment requirements are modest and have to date largely been met by equipment purchased by Gemma during her period of education. This includes Art materials and Printing equipment.

    • 5.3 Staffing Levels No additional staff will be required in the early stages of trading.

    • 5.4 Legal Aspects Gemma *will ensure* that her business will comply with all legalities related to the running of the enterprise. This includes:

    Insurances – Gemma will secure appropriate levels of business

    insurances to cover public and personal needs. Environmental considerations - Gemma has conducted a general

    audit of his business in relation to the prospective environmental implications relating to the business practices. Gemma is comfortable that the business will be fully compliant with all appropriate legislation and guidelines. Waste will be disposed of responsibly. Recycle inkjet cartridges, paper etc. Taxation – Gemma will register with HMRC on the commencement

    of trading. She will not register for VAT as he is unlikely to exceed the current mandatory registration threshold level of £81,000. Health & Safety – whilst there is some responsibility by the

    owner/manager of private premises in relation to Health & Safety, Gemma also shares this responsibility in relation to the work he undertakes and the associated hazards. Gemma will ensure that he conducts his business in a safe and responsible manner that does not attach an additional burden upon his customers. Business records – Gemma is aware of the importance of maintaining appropriate, good quality records and will continue to

    Business Advisor: Jan Kalitkin 07929528021

    5.0 BUSINESS OPERATIONS 5.1 Business Premises Gemma will operate from her home address at 29 Hillam

    work with a business advisor to receive appropriate training in this regard. Data Protection -

    Pricing and Payment terms – Gemma’s clients will operate on a payment upon completion basis.

    • 6.0 FINANCES

    • 6.1 Start up requirements: See attached Start Up Costs sheet

    • 6.2 Marketing Costs/Plan

    See attached marketing plan

    • 6.3 Pricing/Sales Forecast See attached Sales Forecast

    • 6.4 Cashflow Forecast/Profit & Loss/Balance Sheet See attached Cashflow

    Business Advisor: Jan Kalitkin 07929528021

     work with a business advisor to receive appropriate training in this regard. Data Protection -