writing a business plan

[blackleafforge]

Hi, I’m writing a business plan to get access to a loan. Has anyone in the UK submitted one before? where do you get figures on things like amount of practising smiths, average income, average customer catchment area, advertising expenditure and custom gained, etc 
 
tnx

[BIGGUNDOCTOR]

First stop may be with one of the guilds. If they are training for a particular field they should have info on where they can get work afterwards.

[rockstar.esq]

blackleaf,

 

I don't know much about the UK's government but perhaps there's a similar office to our Department of Labor and Statistics?

 

Census data may be helpful as well.

 

Finally, if you've anything similar to a Chamber of Commerce they might have some data on the local market.

 

As for advertising, I can tell you that billboard firms have very well developed metrics to justify their fees.

[nonjic]

IMHO you need to keep it simple for a business plan, how many widgets you need to sell to cover your costs, wages, and a bit in the bank for re-investment and contingency. (widget could be a set of gates, or a fifty quid companion set)

 

It really is as simple as proving 'I need to shift five grand a month to pay you back, and give me some wages'

 

Then 'stress test' your business plan. reduce sales, increase costs until your bust ! then have a think about the likely hood of this scenario happening.

 

Its pretty easy to write a sheet in excel to do this (guessing there are loads of templates available online, but im old skool, and write the formula's coz thats how I learnt in the olden days :D )

 

A 'starting from scratch' business plan will show you going into debt for a few months at the start - that's why you need funding (their money). Just be realistic with the numbers (and, did I mention stress test them?)

 

I think you have a much better chance of getting funding with some experience, ie, I worked at joe blog's smith shop for a couple of years, and we used to get five grand for 'x' , I can do that on my own in a couple of weeks if I had 'y' assets going for me. Back it up with examples....

 

The other, slightly grim reality is, you will be very lucky (actually, cack all chance) to get any funding, from anyone, without some 'flesh in the game' (horrible phrase, but applicable) welcome to the 'PG' (personal guarantee).

 

I churn over seven figures, profitably, a year, with excellent history with my bank.(ltd company) If I need credit from the bank to fund a big job or whatever I have to personally guarantee with my home and personal assets! lots has changed since the sub prime lending credit crunch mess. 

 

hope it goes well !