Help with my first business plan!

[Blissbeauty]

Hey

How do you work out your annual turnover when you are putting together your first business plan? thanks x

 

[allyballybee]

Annual turnover is the money you take in, without anything taken off. So I would work out what you'd think you would take in a week, then times it by 47. (I'm being generous and giving you 5 weeks holidays!)

 

[botoxwales]

I'm trying to right a business plan for our newish business. Havent got a clue how to do some of it.

Do you just estimate the figures?

 

[kimi1101]

i found this the hardest thing to plan. I worked out how much i needed to make a week and then came up with the figure from that. fortunately we've done better than that, but it basically means the plan i made isnt right, at all. lol. i would work on a worst case scenario if you know what i mean. the way i did it worked fairly well for me in the beginning. x

 

[littlesophie]

Im also just about to start my business plan, Ive written a couple of bits down but Im stuck on the whole, paying salary bit??

Im looking to open a Hair Salon but have no idea on how many staff I should be accounting for, whether they are jnrs, part time or full time senior stylists et, and on top of that, how much do they get paid??? these are all key parts i need to know so that I can work out how much I will need to make to cover rent, rates etc etc blah blah.

What should I work from???
Sx

 

[kimi1101]

with mine, i jst accounted for all my bills (gas and elec i guessed from what my previous employer paid on hers) and then how much i needed to take from the business to keep myself afloat. i accounted also for a junior @ £100 a week, although I didnt take one on at the beginning. So I just added together....
rent
rates
wages of junior
wages of myself
elec
gas
phone
pdq charges
accounted for £50 a month printing
advertising (again £50 a month)


i cant think of what else. worked this out per month, then divided it down til i knew how much i needed to clear per week and day.

I planned small, but i also knew that i would be disappointed if by the end of the first year i hadnt taken on any other staff.

the way things have worked out for me is totally different than how my plan was (luckily better)

have u been to business gateway/link?

 

[littlesophie]

Thanks for that Kim. I have been on a couple of Business Link courses, and Im using their Business Plan template, i found the courses really helpul.

I just didnt know if you had to kind of guess how many staff you would be taking on but I suppose I should start small at first and work from there.

Sx