Business Plan
Create a simple business plan
Planning a Business
A business plan is a written document describing your business idea, who your customers are, how you will make money and what resources you need. Planning before starting increases your chances of success. It forces you to think through every aspect carefully.
Example
Simple Business Plan
Business name: Sipho's Smoothie Stand
Product: Fresh fruit smoothies
Customers: School learners and teachers
Price: R15 per smoothie
Costs: Fruit R200/week, cups R50, blender (once) R500
Income: 20 smoothies/day × R15 × 5 days = R1 500/week
Profit: R1 500 - R250 = R1 250/week
Location: School gate at break time
Note
Remember
A business plan answers: What will I sell? Who will buy it? How much will I charge? What will it cost me? Where will I sell? A good plan helps you get funding (money to start) and avoid mistakes. Start small, test your idea and grow.
Key Vocabulary
Business planA written document describing how a business will succeed
Start-up costsMoney needed to begin a business
RevenueTotal money a business receives from sales
FeasiblePossible and likely to succeed
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Business plan
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