Your Business Plan Workbook
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1 Your Business Plan Workbook PREFACE
2 This workbook is prepared for both veterans and civilians who either want to start their own businesses, or who want to expand and improve their businesses. This is a very important aspect of business development and requires careful undertaking by both the trainer and trainee. This business plan handbook was developed in collaboration with a number of VOCA volunteers, partners and organizations. These include: Organizations and Partners. Soroti Catholic Diocese Integrated Development Organisation (SOCADIDO) Soroti District Association of NGOs Network (SODANN) Uganda Veterans Assistance Board Vision Terudo (Teso Rural Development Organisation) World Learning, Inc. World Vision, Soroti Project office. American Peace Corps Volunteers Mr Dave Hammond Prof. Surrendra Singh Mr. Clair Hein Ms Donna Kerner Mr. Bob Nottleman Thanks goes to Dave Hammond whose TOT in January and February of 1996, provided the backbone to this handbook. His input during the September/October, 1996 pilot TOT for "Your Business Plan handbook" and "Your Business Plan workbook" were of valuable benefit in the development of the materials. Donna Kerner's field testing of these materials during veterans training and subsequent feedback from the same is also highly appreciated. Appreciation also goes to Bob Nottleman for his contribution to the materials during the January/February Grand ToTs. Our appreciation also goes to Mr. Clair Hein and Prof. Surrendra Singh who worked hand in hand with VOCA staff, Mr. Martin Owiny to develop "Your Business Plan Workbook" and "Your Business Plan Workbook" and the Trainers Guide to the two. Special thanks also goes to VOCA staff Ms Elsie Mukasa for the development of the graphics, design and layout of these materials. This handbook was funded by the United States Agency for International Development (USAID). HOW TO USE THIS WORKBOOK This workbook is designed to be studied and filled out by a trainee in conjunction with a trainer.
3 You are therefore advised to go step by step through it with the help of your trainer. Do not rush through it or try to understand it immediately, but allow your trainer to take you chapter by chapter, step by step, exercise by exercise. To complete this workbook, use the answers in the recommended sections of the handbook to fill out your workbook. If you do this, you will then have a business plan that you understand and which you can present to a lending institution. What is a business plan? In a business plan, you think about and work out what will happen in a business. This will help you put your business in order, plan how your business will grow and see the problems you may face when it starts. A business plan has a number of parts to it. PARTS OF A BUSINESS PLAN I) Title page II) Summary III) Goals for your business IV) Management and organization V) Marketing plan VI) The work plan VII) The financial plan - Start-up capital - Projected income statement - Cash flow plan - Break even analysis - Balance Sheet - Profit and loss statement A business plan will help you: Understand your business better, Expand and improve your business, Decide whether to continue in business or not, It can help you start looking for financial assistance, It also helps you prepare for the future of your business. *You should revise your business plan every year.
4 EXECUTIVE BUSINESS PLAN SUMMARY To answer this section please refer to page 98 and 99 of YOUR BUSINESS PLAN HANDBOOK EXECUTIVE BUSINESS PLAN SUMMARY The business (group) located in It was formed for the following purposes
5 Since we were formed we have accomplished In the next year, we plan to We produce (or render service) We sell our products or services to We have a plan of activities to produce our product/service outlined in the following Business plan. Decisions are made by. We expect to make a profit of during. We will use the profit to. If the activity goes as planned the benefit to the group and the community will be Our cash flow analysis shows that we will have enough money to pay our bills on the requested loan of which will be used to We will repay the loan by with money from the sales of LOAN REQUEST (Complete only if seeking a loan) Business (Group) How large a loan do you need?
6 When will you need the money? How will the money from the loan be used? How will the loan help you make a profit? What security do you have to guarantee the loan? When will you repay the loan? How will you be able to repay the loan? Where will you get the money to repay the loan? Why do you think you should receive the loan?
7 BYLAWS To answer this section please refer to page 11 to 18 of YOUR BUSINESS PLAN HANDBOOK (This section is only relevant to groups and not to individuals.) PURPOSE OF THE BUSINESS GROUP. A) The purpose of the group is to: MEMBERSHIP OF THE GROUP. A) The requirements for membership are:
8 B) To remain a member in good standing, members must: C) The following action will be taken when members: Do not attend meetings: Misuse money: Do not contribute money: Neglect group work:
9 D) The following is a list of members of the group: LEADERSHIP OF THE GROUP A) The officers will be Chairman, Vice - chairman, Secretary and Treasurer. They must be members of the group in good standing. B) The officers will serve a term of (months). C) The officers will be elected by the members of the meeting on (date). The actions of all officers shall be fully transparent. They shall account to the members upon request. D) The duties of the officers are as follows: Chairman be the spokesman for the group, preside at meetings, maintain order at meetings, direct the activities of the group between meetings. Vice Chairman -- acts in place of the chairman when the chairman is unable to act. Carries out other activities as designated by the chairman. Secretary -- records minutes of meetings, keeps the list of all group members, keeps record of all group activities and meetings. E) If an office is vacant for any reason, the members shall elect a replacement at the next regular meeting.
10 F) Records will be taken of all proceedings of meetings conducted. FINANCES A) The treasurer shall be responsible to keep the following records of the group. B) All records of the group shall be available for inspection by group members who give at least (time) notice of their desire to inspect. C) Any expenditure of group money over shall require the approval of two officers. D) The treasurer shall keep no more than (amount) of the group's funds in cash and the rest shall be deposited in the bank account. E) If an official of the group carries out the theft, or other illegal actions, disciplinary actions and/or criminal proceedings shall be taken against that official. F) The profits of the group will be distributed (when). G) The profits of the group will be divided among members by: Treasurer -- keep the financial records of the group, be ready to report the financial status at meetings, collect money due to the group, open and maintain a bank account for the group. The treasurer shall be personally responsible for the funds of the group. THE EXECUTIVE COMMITTEE A) The executive committee shall be composed of the officers of the group. B) The executive committee may act on behalf of the group on day to day matters between meetings. The executive committee may act in emergency situations on behalf of the group. Major decisions should be presented at meetings of the entire group if possible. Any decisions of the executive committee shall be ratified by the next regular or special meeting of the group.
11 MEETINGS A) The regular meetings of the group will be held: B) The executive committee may act on behalf of the group on day-to-day matters between meetings. The executive committee may act in emergency situations on behalf of the group. Major decisions should be presented at meetings of the entire group if possible. Any decisions of the executive committee shall be ratified by the next regular or special meeting of the group. MEETINGS A) The regular meetings of the group will be held: B) Special meetings of the group can be called by two of the officers. They shall notify members at least before the special meeting except in emergencies. HOW THE GROUP WILL SOLVE CONFLICT The group will handle conflict in the following ways: The group will reduce chances of conflict by: The group will maintain trust by:
12 VOTING A) Officers can be removed from office by a vote of of all the members of the group, at a meeting of the group. B) The bylaws can be changed by a vote of a of all the members of the group at a meeting of the group. C) The group shall be dissolved under the following circumstances: On completion of tasks for which the group was formed by a vote of % of the membership. ASSETS A) When the group dissolves, the assets of the group will be: B) The bylaws were adopted by the group on (Date).
13 GOALS FOR THE BUSINESS
14 To answer this section please refer to page 21 and 22 of YOUR BUSINESS PLAN HANDBOOK GOALS FOR THE BUSINESS THE REASONS FOR THE BUSINESS. A) Products or services to be produced are: B) Personal reasons for starting a business: C) Group reasons for starting a business: D) Benefits of the business to the community:
15 THE ACHIEVEMENTS AS A BUSINESS OR BUSINESS GROUP. A) What the business has been able to do since it began: B) Grants received by the business: C) Loans received by the business and repayment history: D) Other sources of funds received by the business: E) Problems faced by the business: GOALS A) Intended accomplishments of the business in the next:
16 Six months: One year: Three years:
17 MANAGEMENT AND ORGANIZATION
18 To answer this section please refer to page 25 and 27 of YOUR BUSINESS PLAN HANDBOOK MANAGEMENT AND ORGANIZATION OF THE BUSINESS EMPLOYEES REQUIRED FOR EACH ACTIVITY A) ACTIVITY NUMBER OF LABORERS B) Number of hired employees: C) Number of family or group members: D) Total number of laborers in the business: EMPLOYEE PAYMENT AND MOTIVATION How much staff will be paid: A) Management: B) Hired labor: C) Family or group labor: D) Labor will be motivated to work hard by:
19 MARKETING PLAN To answer this section please refer to page 33 and 40 of YOUR BUSINESS PLAN HANDBOOK
20 PRODUCT A) Product or service produced by the business: B) Need or want that the product or service meets: C) Customers: D) Difference with other similar goods or services: E) Why customers buy from us: PRICE.
21 A) Cost of product or service: B) Amount customers are willing and able to pay: C) Price that other businesses charge for providing similar products or services: D) Price charged by our business: E) Reason for prices: PLACE. A) Location of the business and how it operates:
22 B) Distance from suppliers: C) Location of customers: D) How will the business get new customers: PROMOTION. A) How we will promote about the business to attract people to buy. CUSTOMERS. A) Sex of the people who buy from the business:
23 B) Age group of customers: Below 16 yrs yrs yrs yrs. over 40yrs. C) How customers are treated in the business: YOUR COMPETITION. A) Others in the area providing the same goods and services as our business: B) Number of customers going to our major competitor C) Our major competitor is getting bigger/smaller. D) How will we attract additional customers: E) Comparison of our business with our major competitors: Better Same Worse Quality of your goods or services
24 Easy for customers to reach your business Price of your goods and services Appearance of your business What customers say about your business F) The following changes will be made to our business so that more people buy from us:
25 THE WORK PLAN To answer this section please refer to your answer to step 6 on page 45 of YOUR BUSINESS PLAN HANDBOOK Seasonal Requirements Work Plan for Seasonal Activity Duration of Activity Estimated Start Date Labor Requirements Period - Weeks, Months or Acres
26 Task & (Period) No. of Laborers No. of Periods Rate Per Period Total Cost Total Labor Cost = Seasonal Requirements Work Plan for Seasonal Activity Duration of Activity Estimated Start Date Material Requirements Material & (Period) Units per Period No. of Periods Cost Per Period Total Cost
27 Total Material Cost = Total Activity Cost (Labour + Materials) =
28 START-UP CAPITAL To answer this section please refer to your answer on the table on page 52 of YOUR BUSINESS PLAN HANDBOOK START-UP CAPITAL START -UP CAPITAL SHS. A) INVESTMENT 1. TOTAL MONEY FOR LAND AND BUILDINGS 2. TOTAL MONEY FOR EQUIPMENT, TOOLS AND FURNITURE etc. TOTAL INVESTMENTS + B) WORKING CAPITAL
29 1. TOTAL MONEY FOR RAW MATERIALS OR FINISHED GOODS 2. TOTAL MONEY FOR WAGES 3. TOTAL MONEY FOR RENT 4.TOTAL MONEY FOR OTHER COSTS TOTAL WORKING CAPITAL TOTAL START-UP CAPITAL
30 PROJECTED INCOME STATEMENT To answer this section please refer to your answer to the table on page 66 and 67 of YOUR BUSINESS PLAN HANDBOOK PROJECTED INCOME STATEMENT FOR... Details Months Jan. Feb. Mar. Apr. May June Sub Total Sales Less DIRECT MATERIAL COSTS Less DIRECT LABOR
31 COSTS GROSS PROFIT INDIRECT COSTS Rent for land Rent of Building Electricity Water Worker s salary Owner s salary Stationary Furniture Loan Interest Tax Depreciation Others Total Indirect Costs
32 NET PROFIT (Gross profit minus Total Indirect Costs PROJECTED INCOME STATEMENT FOR... Details Months Jan. Feb. Mar. Apr. May June Sub Total Sales Less DIRECT MATERIAL COSTS
33 Less DIRECT LABOR COSTS GROSS PROFIT INDIRECT COSTS Rent for land Rent of Building Electricity Water Worker s salary Owner s salary Stationary Furniture Loan Interest Tax Depreciation Others Total Indirect Costs
34 NET PROFIT (Gross profit minus Total Indirect Costs
35 CASH FLOW PLAN To answer this section please refer to your answer to the table on page 75 of YOUR BUSINESS PLAN HANDBOOK YOUR CASH FLOW PLAN. CASH FLOW PLAN SOURCES OF CASH 1. CASH AT THE START OF THE MONTH 2. CASH IN FROM SALES 3. CASH FROM MEMBERS 4. MONEY RECEIVED FROM DEBTORS 5. CASH LOAN RECEIVED 6. CASH GRANT RECEIVED MONTHS JAN FEB MAR APRIL MAY JUNE
36 7. ANY OTHER CASH IN 8. TOTAL CASH IN (SUM OF NO.2 THROUGH NO.7) USES OF CASH 9. CASH OUT FOR DIRECT MATERIAL COSTS 10. CASH OUT FOR DIRECT LABOR COSTS 11. CASH OUT FOR INDIRECT COSTS 12. CASH OUT FOR PLANNED INVESTMENT IN EQUIPMENT 13. CASH OUT TO MEMBERS 14. LOAN PRINCIPAL REPAID 15. LOAN INTEREST PAID 16. ANY OTHER CASH OUT 17. TOTAL CASH OUT 18. MONTHLY NET (No. 8 - N0. 17) 19. CASH AT THE END OF THE MONTH (No. 1 - No. 18) YOUR CASH FLOW PLAN. CASH FLOW PLAN SOURCES OF CASH 1. CASH AT THE START OF THE MONTH 2. CASH IN FROM SALES 3. CASH FROM MEMBERS 4. MONEY RECEIVED FROM DEBTORS 5. CASH LOAN RECEIVED 6. CASH GRANT RECEIVED MONTHS JAN FEB MAR APRIL MAY JUNE
37 7. ANY OTHER CASH IN 8. TOTAL CASH IN (SUM OF NO.2 THROUGH NO.7) USES OF CASH 9. CASH OUT FOR DIRECT MATERIAL COSTS 10. CASH OUT FOR DIRECT LABOR COSTS 11. CASH OUT FOR INDIRECT COSTS 12. CASH OUT FOR PLANNED INVESTMENT IN EQUIPMENT 13. CASH OUT TO MEMBERS 14. LOAN PRINCIPAL REPAID 15. LOAN INTEREST PAID 16. ANY OTHER CASH OUT 17. TOTAL CASH OUT 18. MONTHLY NET (No. 8 - N0. 17) 19. CASH AT THE END OF THE MONTH (No. 1 - No. 18)
38 BREAK EVEN ANALYSIS To answer this section please refer to your answer to the table on page 83, if you are, providing many products or service's or page 85 if your are providing one product or service in YOUR BUSINESS PLAN HANDBOOK BREAK EVEN POINT SALES LEVEL I. CALCULATE GROSS PROFIT TOTAL SALES IN YOUR BUSINESS Less TOTAL DIRECT COSTS (DIRECT MATERIAL COSTS AND DIRECT LABOR COSTS) GROSS PROFITS SHS. /= SHS SHS II. CALCULATE GROSS MARGIN
39 GROSS MARGIN = GROSS PROFIT TOTAL SALES GROSS MARGIN 0 III. CALCULATE TOTAL INDIRECT COST INDIRECT COSTS Rent for land Rent of building Electricity Water Workers' salary Stationery Furniture Loan interest Tax Depreciation TOTAL INDIRECT COST IV. BREAK EVEN POINT SALES LEVEL TOTAL INDIRECT COSTS GROSS MARGIN BREAK EVEN POINT SALES LEVEL BREAK EVEN POINT PRICE LEVEL FOR I. CALCULATE TOTAL COST TOTAL COST = DIRECT COST + INDIRECT COST
40 TOTAL COST II. CALCULATE TOTAL YIELD TOTAL YIELD = NUMBER OF PRODUCTS PRODUCED IN THEIR UNITS OF MEASUREMENT e.g. Kg. TOTAL YIELD = III. CALCULATE BREAK EVEN POINT PRICE LEVEL BREAK EVEN POINT PRICE LEVEL (TOTAL COST OF MANUFACTURING A GOOD TOTAL YIELD OR TOTAL PRODUCTION OF THE GOOD)
41 THE BALANCE SHEET BALANCE SHEET FOR... ASSETS CURRENT ASSETS 1. Cash 2. Items in the store 3. Money other people owe to your business SHILLINGS TOTAL CURRENT ASSETS FIXED ASSETS 1. Land 2. Buildings 3. Machinery 4. Tools 5. Equipment 6. Furniture TOTAL FIXED ASSETS
42 TOTAL ASSETS (TOTAL CURRENT + TOTAL FIXED) LIABILITIES CURRENT LIABILITIES 1. Interest on short term loans, long term loans 2. Taxes 3. Wages and salaries earned but not paid 4. Money owed to other businesses for goods purchased on credit TOTAL CURRENT LIABILITIES LONG TERM LIABILITY 1. Loans incurred to buy land 2. Loans incurred to buy buildings 3. Loans incurred to buy equipment 4. Loans incurred to start a business SHILLINGS TOTAL LONG TERM LIABILITY TOTAL LIABILITY (TOTAL CURRENT + TOTAL LONG TERM) OWNERS EQUITY (TOTAL ASSETS - TOTAL LIABILITY) TOTAL LIABILITY PLUS OWNERS EQUITY SHILLINGS +
43 PROFIT AND LOSS STATEMENT
44 To answer this section please refer to your answer to the table on page 95 of YOUR BUSINESS PLAN HANDBOOK PROFIT AND LOSS STATEMENT... TOTAL SALES Less Less MATERIAL COSTS DIRECT LABOR COSTS GROSS PROFIT Less INDIRECT COSTS Rent for land Rent of building Electricity Water Workers salary Stationary Furniture
45 Loan interest Tax Depreciation Others TOTAL INDIRECT COSTS NET PROFIT
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