Page 6 - Spring Into Markets
P. 6

           Do you want to operate more stalls?
How many days/hours do you want to spend working in the business?
            Do you eventually
want a retail
shop unit?
   Step 2: Write a Business Plan
A three to five‐year business plan is a must. Entrepreneurs with realistic and robust business plans are more likely to succeed in their first year of trading on markets or market‐type events.
Your business plan must answer the following questions: Where am I now? Where do I want to be? How might we get there? Which way is best? How can we ensure we get there?
Consider thinking through the marketing mix: Product, Price, Place, Promotion (including advertising, direct marketing and public relations), People, Processes and Physical Evidence.
What funds do you currently have?
Do you need to apply for a business loan? Where and how are you going to apply for additional funding?
Consider Start Up Loans UK — .
It is essential to see your business plan as a work in progress — amend and review any details that you think you need to work on.
To download the module for writing your business plan — click here.
You can also download a free business plan template on The Prince’s Trust website — click here.
How much money do you want to make?
How big do you
want the business
to get?
Do you want to be able to employ other people?
6 Starting Up
Guide 1

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