“Thank you, I purchased the business template today, and I found it quite easy to follow as well. It was a document they (the Department) requested from the meeting. I have a rough plan, but your template made it look professional”

D. Kemball Victoria

Business Plans are integral to your business for a range of reasons, whether you are working from home or you are running an education and care service. Business plans assist with a whole range of aspects of your business from finances to marketing and everything in between.

Some examples on how your business plan can be used, reviewed or developed include:

• Starting out
• Applying for approvals or licensing
• Purchasing or altering your business status
• If you have experienced a decline in clients or finding clients difficult to attract
• Not attracting the right workers, staff or assistants or experiencing a ‘turn-over’
• Policies not being implemented (are they meeting your business’s needs?)

Business planning gives you direction and assists you to avoid any potential unforeseen issues. Business planning will:

• Make you more aware of your costs, and therefore charges, and inform your operational budget
• Identify your strengths and what sets you apart from your competitors, therefore informing your marketing and promotional material
• Identify your weaknesses, allowing you to be prepared for risks or develop a professional development for yourself (what don’t you know?)
• Identify your threats, what are your competitors offering? Who is your client demographic; education? employment? etc. knowing this will assist in your marketing, fee setting, policy development etc.
• Identify your opportunities, where does knowing this information place you in your market? Can you charge more than your competitors? Can you cater for a specialist group of children or clients (pre-school, additional needs, infants, school age etc.)?

This business planning guide will set you on the right path for establishing, reviewing and growing your business.