Business Planning Assessment Template

This business planning assessment template provides a step-by-step guide to help you plan and strategize your business. It includes sections on business concept, target customers, competitors, operations, stakeholders, and pricing. The template covers important aspects such as identifying your business proposition, confirming the need for your business, targeting and reaching your customers, competing with your competitors, carrying out your product or service, managing stakeholders, and setting your pricing plan. Use this template to create a comprehensive business plan that will help you succeed in your venture.

Page 1 of 21Business Planning Assessment Template
YOUR BUSINESS CONCEPT
1.BUSINESS OVERVIEW
What is your business (or value) proposition and why do you think it’s a good idea?
The business idea is to launch a mobile book store which will focus on the collection and supply of books by reaching
people in their homes and comfort rather than simply opening a bookstore. The business will be named as “Books on
Wheels” and this will be used to address the cause of not just an innovative business idea but to meet the criteria of
social entrepreneurship as well. The key value proposition is that the idea is to foster the reading habits amongst the kids
and youngsters which is easily becoming quintessential trait rather than a hobby. Additionally, the poor kids who are not
able to afford the expensive books for their education will also be able to gain access to such knowledge by our proposed
business venture.
I think it is an excellent idea because it not only helps in earning profits and establishing a business but it also helps in
addressing a social cause through such venture.
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]

Page 2 of 21Business Planning Assessment Template
How have you confirmed there is a need for your business?
The industry will basically be the book readers industry and although there are not many changing trends in this industry
but yet still the customer base in this industry is huge and widespread. At present, it is estimated that the publishing and
reading industry is ranging for as far as £11.7 billion as estimated in the year 2017. The key players are the writers with
good content, the publishers, the sellers and ultimately the readers. Here, the availability of book is less of a concern than
the price that is being charged for it. I have tried to test the potential success of my business idea by selecting random
strangers and getting their view point that whether they would like my idea of a mobile van. This not only helped me in
gaining an overall positive response but it also helped me in modifying my idea and objective where earlier I was only
planning on sale of books, now I will also supply the necessary books at lower rates to poorer and needy students
(Massaro and et.al., 2020).
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]

Page 3 of 21Business Planning Assessment Template
1. WHO ARE YOUR CUSTOMERS
AND HOW WILL YOU REACH
THEM?
Customer
Profile
Why are you targeting them? How are you going to get their
attention?
How are you
going to convince
them to buy from
you?
What specific
activities does this
mean you need to
do?
What
approximate
level of spend
will you need on
each activity?
1. Youngsters
and teenagers
This group is targeted because
the tastes of this crowd can be
predicted and understood. All
the fan fictions, the trends etc.
that they follow will help in
understanding what are they
thinking about the books and
hence stock them and make
these available to them
proactively will increase the
In order to attract them, the
business will prominently focus
on the creating an excellent and
noteworthy presence on the social
media accounts and digital
platforms giving regular updates
regarding the different stocks and
genres being stored (Gatignon
and et.al., 2017). This will make
it easy for the targeted group to
Offers, discounts,
give away, loyalty
points etc. The
prices would be
distributed in such
a manner that they
are able to get best
deals in books.
Hosting online live
Q and A sessions
with the interested
public.
$80 - 100
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]
MARKETING

Page 4 of 21Business Planning Assessment Template
sales of company. be in track with the company and
its ideas.
2. Students Students are always in search of
one book or another and this
indicates that the need for them
can easily be met and targeted
thus helping in gaining the
necessary momentum and
results regarding the sales
aspect.
In order to attract them, along
with social media, another tools
like e- mails, messages etc. will
be used so that they can be made
aware regarding the discounts that
the company is giving, the
relevant study material to be
brought etc.
Discounts, offers,
seasonal sales and
offs.
Engaging in
conversations with
them and also
engaging in field
and market
research mainly.
$50
3. Professors
and teachers
The professors and teacher will
act as major donors in the
company who can also be
referred to understand what
kind of books are necessary to
stock and at what time i.e. when
exam season is near, then what
books are to be stored as
compared to the time when the
term is relaxed (Yang and
Gabrielsson, 2017). This can
also help immensely in
targeting the population in a
structured manner.
These will be targeted by
distributing pamphlets, exercising
door to door marketing and
communication etc. This will
make them aware and understand
the business idea thus making
them cooperate towards the
success of business. They can
also be promised rewards and
benefits such as win $ 100 after
donation of every 5 books etc.
Cash prizes and
rewards. Also an
act of charity and
appreciation for it
is always favoured
amongst academic
staff.
Try to integrate as
many of them as
possible into the
network making it
more strong
$50 - 150
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]

Page 5 of 21Business Planning Assessment Template
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]

Page 6 of 21Business Planning Assessment Template
2. WHO ARE YOUR COMPETITORS AND HOW WILL YOU BEAT THEM?
Competitor profile What will you be
competing with
them on?
Why do customers
buy from them?
Why would customers
switch to you?
What specific
activities will you
need to do?
What approximate
level of spend will you
need on each activity?
1. Amazon/E- Bay:
These .are online sellers
of the books who are
most prominent threat to
company
Price, after sales
services
Because of better
discounts and comfort
level.
Because of better price
and experience
altogether and ability to
touch and smell books.
Working on optimising
digital campaigns
$50
2. Barnes and Nobles:
These refer to the
famous bookstores
which again stand the
chance of grabbing
customer’s attention.
Experience,
feasibility and
accessibility
To enjoy the chance of
seeing new books
To live and gain a
better and improved
experience
Better offers and
ambience development
$35
3. Local Vendors:
These are the local
sellers and other similar
persons who can capture
the market.
Quality, product
features etc/
To suit the customer’s
comfort and time
availability.
To contribute towards
the social cause and
foster new business
idea.
Develop better
practices and being
more in prominent
positions.
$40
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]

Page 7 of 21Business Planning Assessment Template
1. HOW WILL YOUR PRODUCT BE
PRODUCED OR HOW WILL YOUR
SERVICE BE CARRIED OUT?
The service will be delivered by the motor van drivers who will make the books available to the desired
customer segment and for this there will be requirement of transport vehicles that can help in addressing
the demand accordingly in the areas to be served. The main preparation that is necessary will be required is
to develop a proper network where it can be clearly identified that what areas need to be targeted mainly. It
will also be instrumental to source the older books from the students and university or school teachers and
professors who are willing to either donate their books or sell it at a reduced price (Saura, Palos-Sanchez
and Correia, 2019. ). The books then collected from suppliers and sellers or donors would be then sold to
the customers distributed all over the city and the location from which order has been placed.
There will be requirement of one office where everything needs to be coordinated and where customers
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]
OPERATIONS

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can visit personally in case of any query or grievance. Apart from them, major investment would be in the
automobiles and the books collection.
COST DETAILS: BELOW, GIVE COST DETAILS1 ESTIMATED COSTS
How will the product(s)/service(s) be delivered to the customer? And how
much will this cost?
Products will be delivered at their doorstep through the use of transports i.e.
mobile vans that are being used in the business.
£7 for every order
Quality: Please describe your quality control process.
In order to maintain and control quality, there will be a separate manager whose
sole purpose would be to gain feedback of the clients and work on the
improvement of those areas that have been declared as faulty or inappropriate.
£2 for every order
Payment processing: How will payments be accepted?
We have developed all sorts of cash payment modes that clients can use with us
i.e. these are cash, credit cards and online systems of Pay- Pal as well. None of
these incur any significant cost and the only cost is of car swiping machine
otherwise all of them do not require any assistance of maintenance.
£0.5 fixed cost
1 Santander website https://www.santandergeneralbusinessguides.co.uk/
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]

Page 9 of 21Business Planning Assessment Template
2. STAKEHOLDERS – who will be involved in your business besides you? How will you manage their involvement and
their expectations? What costs will be associated with them? E.g. self, staff, suppliers, shareholders, others
List the stakeholders Any issues which may arise and
how you will manage them
Any costs associated with this
1. Suppliers Shortage of supply can arise but
developing contacts with multiple
suppliers can address this issue
Depends on orders broadly but on an
average the cost ranges to £1 against
every individual order.
2. Customers Customers might become bored
with the idea very soon which in
turn can be unprofitable situation
for the business (de Sousa Jabbour
and et.al., 2019). In order to meet
this, the best strategy would be to
upgrade products regularly and
create hype regularly.
No potential costs will be associated
with this because customer service is
the primary objective.
3. Employees Employees need to understand the
sentiment behind business idea and
The salaries that are to be given to them
are the main costs that will be incurred
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]

Page 10 of 21Business Planning Assessment Template
after some time they might find it to
be a business with slower profits
rather than earning quickly.
for the clients i.e. around £200 for every
month.
4. Students Students or teachers together might
decide not to get included in the
process of serving kids with cheaper
books and decide to simply donate
them which would be way more
profitable.
There is no cost associated mainly with
this particular stakeholder segment.
3. PRICING- In this section you need to outline your pricing plan
Product or Service –
list up to 3
Price you will
charge
Why is your price set at
this level?
How does this price compare
to your competition?
1. Selling Books $ 5 - $ 250 The price is set within
this range so that every
person can access the
books based on their
The price is set reasonably
because apart from the social
work, other books are priced
based on value pricing strategy
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]

Page 11 of 21Business Planning Assessment Template
requirement i.e. students
will be given at cheaper
rates and other buyers at
normal price range
(Wamba and Queiroz,
2020).
which helps in earning better
than competitors. Also selling
on limited locations will help
in serving a wider variety of
books at customer’s doorstep
so that better services can be
given.
2. Donating free
books to needy
$ 0 This is because the books
will be collected at 0
costs and hence should
be ethically distributed at
nil cost.
There is no price competition
for this because this is
included in the fulfilment of
the social duty and idea of
serving knowledge. However,
this will raise goodwill which
will act as a major
differentiating point against
competitors.
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]

Page 12 of 21Business Planning Assessment Template
3. Facilitating an
exchange of books
$ 50 - $ 200 Depending on the
different locations and
book title, prices can
vary.
This price range has been set
up in the better prospect than
the competitor because this
facility is already very limited
and hence bundle pricing will
help in gaining the necessary
competitive advantage. The
volume of this exchange will
be increased so that despite
lesser profits more revenues
can be generated through it.
4. SALES – QUANTITY – for the above products or services, what is the value of your predicted sales forecast
within what timeframe?
Product or Service Predicted sales
(££)
Timeframe Notes
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]

Page 13 of 21Business Planning Assessment Template
1. Selling Books £ 5000 Within three months
of the launch period
i.e. quarter of a year.
This figure has been obtained on the
basis of the fact that the books are
based on certain pricing strategies and
concepts. Based on the market research
regarding the number of readers in the
city and their purchasing frequency,
this figure has been derived in an
approximate manner.
2. Donating free books to needy £ 0 Throughout the year The figure has been kept zero because
no price will be charged for circulation
of books that have been donated in the
business and these will be given
directly to the students who really
cannot afford these books and intend to
pursue their education at any cost
(Tarafdar and et.al., 2019).
3. Facilitating an exchange of
books
£ 2500 Within three months
of the launch period
i.e. quarter of a year.
This is the estimated amount because
in facilitating exchange of books, the
business will charge nominal prices
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]

Page 14 of 21Business Planning Assessment Template
only including the transportation cost
and the excess money that comes in
exchange. Therefore, this is done based
on the book preference, choices based
on age group etc. However, this can get
affected adversely if the customers do
not find the collection interesting or if
they do not find books according to
their preferences and tastes.
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]

Page 15 of 21Business Planning Assessment Template
Your business needs to operate according to relevant legal frameworks and regulations. You should also ensure you are covered by appropriate insurances
should anything go wrong.
Needs Associated costs?
Do you need any licences to operate your business?
Yes this business, books on wheels needs various types of license to operate:
Driving license – A driving license is required to drive any type of vehicle in UK
and to get this driving license the person should attain a minimum age of 17
years. This license has a validity as per the category of vehicle. Driving without
the license is an endorsable offense if there is no entitlement to drive the type
of vehicle which is used in books of Wheels.
The minimum cost associated with driving license in UK is £1,353.
What legal requirements are applicable to your business? (e.g. food hygiene
and safety; child safeguarding; copyright; data protection; health and safety
etc)
The legal requirements applicable to our business books on wheels are :
Child safeguarding – As books are purchased by children therefore it is
necessary to protect children and the business has the legal requirement to
The cost associated with applicability of legal requirements cannot be
calculated quantifiable but the business incurs qualitative cost such as
extra people have to recruited to see matter regarding this act.
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]
LEGAL/REGULATORY/INSURANCE MATTERS

Page 16 of 21Business Planning Assessment Template
follow The child Act, 1989 (Bunting. and et.al.,2018).
As per this act local authorities are responsible to promote and safeguard the
welfare of children.
There are some principles are care act which this business needs to take care
off such as empowerment, protection, prevention etc.
Employees legislation – Employment legislation is applicable to this books on
wheel business as they hire employees to serve.
This act protects the employees and their rights based on dismissal,
unfairness, paternity leave, maternity leave and redundancy.
What insurance might you need to cover your business? (e.g. health and
safety; professional indemnity; incapacity; 3rd party property damage etc)
Collectible insurance – this insurance protects the collection of books against
theft, accidental breakage, flooding and more.
3rd party insurance – Third party insurance is a policy which is purchased for
financial coverage to an insured person against the liability incurred which
occurred in case of loss and damage caused to third party. It has certain
benefits like it offers legal covers and financial assistance, cost effective.
Fire insurance – It is the protection provided by the Insurance company to the
policy holder in case of any loss or damage due to fire, lightning, explosion
etc. In this case insurance will be done on books if in case they catch fire
(Pearson, 2017).
The cost involved is £1700
Anything else to consider? E.g. intellectual property protection, trademarks,
copyright etc
Trademark protection should also be taken into consideration while doing
For copyright protection fees has to paid. The cost associated with
trademark and copyright is is in between £170.
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]

Page 17 of 21Business Planning Assessment Template
this business of books on wheels.
This refers to safeguarding intellectual property rights to protect the
trademark of books on wheels from counterfeiting and infringement (Drahos,
2016).
This is mark that only the business can use the logo and no one else can do
so.
The logo can also be protected as a copyright.
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]

Page 18 of 21Business Planning Assessment Template
Over a period of 6 months, summarise all projected costs2
and turnover previously identified in your plan.
Categorise them into 3 sections: Set-Up, Operational, and
Projected Turnover. Add extra lines if you need them. Where a monthly cost is appropriate, use these columns. Where not, you can simply include a total
1. SET-UP – LIST ACTIVITIES BELOW MONTHLY COSTS TOTAL COSTS OVER 6 MONTHS
1 2 3 4 5 6
Mobility vans 150 190 100 25 25 25 490
Salaries 100 110 125 125 130 140 730
Office premises 50 50 50 50 50 50 300
Maintenance 20 20 30 30 30 30 160
TOTAL FOR SET UP 1680
2. OPERATIONAL – LIST ACTIVITIES
BELOW
1 2 3 4 5 6 TOTAL COSTS OVER 6 MONTHS
Transport and delivery 250
Stationary 200
2 Santander website
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]
FINANCIAL SUMMARY

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Communication 35
Refreshments 80
Rent 125
Others 10
TOTAL FOR OPERATIONAL 690
GRAND TOTAL SET-UP + OPERATIONAL OVER 6 MONTHS 1680 + 690 = 2370
3. PROJECTED TURNOVER – LIST
ACTIVITIES BELOW
1 2 3 4 5 6 TOTAL TURNOVER OVER 6 MONTHS
Sales from Books 1200 2000 4000 3500 3750 3950 18400
Donations received in amount 200 75 150 250 145 1500 2320
Sale proceeds from exchanging books 55 185 150 120 135 500 1145
TOTAL PROJECTED TURNOVER 21865
GRAND TOTAL: PROJECTED TURNOVER - (SET-UP + OPERATIONAL) = 21865- 2370 = 19495
NOTES (add any notes here which are relevant to your financial projections
All the projections have been made on the basis that the trends do not fluctuate majorly and the preferences of the customers remain unchanged ( Hovland,
2019). It is evident that the profits in the first year are not adequate enough and there needs to be more earning which make customer satisfied and excited
by associating with the company.
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]

Page 20 of 21Business Planning Assessment Template
REFERENCES
Bunting, L. and et.al.,2018. Trends in child protection across the UK: A comparative analysis. British Journal of Social Work. 48(5). pp.1154-
1175.
Pearson, R., 2017. Insuring the industrial revolution: fire insurance in Great Britain, 1700–1850. Taylor & Francis.
Drahos, P., 2016. A philosophy of intellectual property. Routledge.
Gatignon, H., and et.al., 2017. A marketing perspective on business models.
Yang, M. and Gabrielsson, P., 2017. Entrepreneurial marketing of international high-tech business-to-business new ventures: A decision-making
process perspective. Industrial Marketing Management, 64, pp.147-160.
Saura, J.R., Palos-Sanchez, P.R. and Correia, M.B., 2019. Digital marketing strategies based on the e-business model: Literature review and
future directions. In Organizational Transformation and Managing Innovation in the Fourth Industrial Revolution (pp. 86-103). IGI Global.
de Sousa Jabbour, A.B.L., and et.al., 2019. Circular economy business models and operations management. Journal of cleaner production, 235,
pp.1525-1539.
Wamba, S.F. and Queiroz, M.M., 2020. Blockchain in the operations and supply chain management: Benefits, challenges and future research
opportunities.
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]

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Tarafdar, M., and et.al., 2019. Using AI to enhance business operations. MIT Sloan Management Review, 11.
Hovland, T., 2019. Effective Financial Projections for a Startup: Get a Business Started with Meaningful Financial Projections. Journal of
Accountancy, 227(3), p.38.
Massaro, M., and et.al., 2020. Crypto‐economy and new sustainable business models: Reflections and projections using a case study
analysis. Corporate Social Responsibility and Environmental Management.
Adapted from Virgin Start Up, How to Build a Business (https://www.virginstartup.org/how-to/virgin-startup-business-plan-template, [accessed 10.04.2017]