You have three main options to creating a business plan.

1. Do it yourself: take the time to research and gather the information you need to develop an effective business plan.
2. Use existing sources of help: such as the Queensland Government Business Resource Centre or your industry association. Visit the Links section of the Toolbox for a link to this website.
3. Hire a consultant: pay for a consultant to research and develop the plan for you. Keep in mind, this may be costly, depending on who you use and where you go. All firms should be able to give you an indication of cost before they start.

What's in a business plan?

You should include the following sections in your business plan.

Executive summary (an overview of the whole concept)

This is the first section of your business plan, but the last section you write – it's easier to summarise your business plan at the end. It outlines the key points of your business plan in one page.

Business profile (the business of your business)

This includes the details of your business: name, location and purpose.

Product/service (describing your product/service and its competitive advantage)

This identifies, describes and analyses the products and/or services that you provide, whether you own intellectual property and what strategies are in place to protect it.

Marketing plan (selling your products/services)

This defines your marketing strategies, product decisions, market segmentation, pricing policies and methods of payment, distribution, and advertising and promotions. It also identifies your market and market share.

Operating plan (how the business will work)

This is a summary of how your products/services will be made/provided, premises and lease terms, plant and equipment, materials, labour, technology and environmental concerns.

Management and personnel plan (your skills and experience)

This reviews personnel functions, job descriptions, policies (including employment/dismissal and anti-discrimination guidelines), workforce planning, skills development and training.

Finance plan (your investment and expected turnover and profit)

This lists business establishment costs, break-even sales levels, profit and loss and cash-flow projections, and funding arrangements, including sources of funds.

Action plan (doing it)

This identifies the activities and tasks needed to achieve your goals, the resources needed, and the personnel who are responsible for tasks and timelines.

Risk analysis and contingency plans (what if)

This identifies issues that affect your business (positively or negatively), such as a greater market demand or a depressed economy. It contains contingency plans you can follow to avoid losses or make the most of opportunities.

Appendices

This includes information to support or expand on any of the sections above, such as business references, customer testimonials, qualifications, detailed product information, market research data, environmental audit procedures, financial projections and statements, contracts and legal documents.