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The succession section of your plan Last Updated: When considering succession planning for when you sell your businessthere are a number of things to think about. Business structure - Enter whether you're a sole trader, partnership, trust or company.
Current owner s covered - List the current business owners who are covered by this succession plan. Include whether this plan applies to all partners.
Planned succession type - Detail the type of succession you have planned. Detail also whether you'll be completely removed from the business or only partially. If it's a partial succession, detail your future involvement in the business. Successor details - When changing ownership there are quite a few things to consider.
Enter the details of your successor and an alternative successor. Include their names and whether they're a family member, business partner or someone you'll need to recruit.
Detail how and when you'll communicate your plan to the organisation. Succession timeframe - Detail when you plan to implement this succession.
Restrictions - Enter any restrictions placed on the succession or successor. For example, if you choose a partial succession and want to retain some control of the business, you may place restrictions on your successor for financial or branding decisions.
These restrictions should only be a summary of any formal agreement you have drawn up with your potential successors.
Proposed organisation structure Briefly outline what the organisation might look like once you leave. Enter the name of your successor.
If they're a current employee, also outline who will fill their current position. Outline any positions that will be vacant after the reshuffle.
Key personnel changes Under the key personnel changes section of your succession plan, list all of the positions in the organisation and the people that are expected to fill the position in the event of a succession.
For each position enter the following:The plan should focus on delivering market-driven products or services as opposed to program-driven products or services to the target customer. You will also need to articulate how to promote your social objectives along with the product and service.
Our aim is to provide bring unique confectionary products and services to Butte and the greater community by retailing and wholesaling tasty treats and hosting treat design classes. ShellyCakes is a confectionary company dedicated to providing high-quality desserts to a ShellyCakes Business Plan.
Business Plan Section 4: Products and Services This is the part of your business plan where you will describe the specific products or services you’re going to offer.
You’ll fully explain the concept for your business, along with all aspects of purchasing, manufacturing, packaging, and distribution.
The products or services section of your business plan should clearly describe what products and/or services you're selling with emphasis on the value you're providing to your customers or clients.
business plan alone is the increased focus on how the business will create profitable revenue streams and less on how the business will operate once it is generating revenue.
The business overview section generally consists the information about your company's legal name, address and contact information. Briefly describe the ownership and organisational structure, give a mission statement and a list of your business objectives and success factors.