Business Plan 1st Draft

I have now completed the first draft of my business plan. The part that I think is particularly relevant to my subject work, beside the market research, is costings. Below you can see the excel spreadsheet for the initial draft of the costings. Additionally, I have also drawn up a table of suppliers which supply the parts for my lighting pieces.

Product Name The Planets
Cost of Materials and Processes Component cost
LED light strip £4.10
Braided fabric Cable £6.20
Internal Wiring and Solder £0.50
3D Printing £20.00
Bronze £18.20
Power adapter £4.68
Arcrylic Sheet 10x600x400mm £16.28
Labour Hours Cost at £8/hr
40 £320.00
Total product cost (inc. labour) £389.96
Profit margin (£) £160.04
Price per unit £550.00
Profit margin (%) 29%
Product Name Hanging Pendant
Cost of Materials and Processes Component cost
Light Source (LED) £4.50
Power Cable £6.20
Wood £10.00
Acrylic sheet 10x500x25mm £8.48
Plug £0.57
Labour Hours Cost at £8/hr
16 £128.00
Total product cost (inc. labour) £157.75
Profit margin (£) £42.25
Price per unit £200.00
Profit margin (%) 21%

What I have done with the above pricing for the new Planets piece is assumed I am going to 3D printing a form, cast it in bronze and integrate lighting into it using sections of acrylic integrated into the forms.  This is likely to change in the future but for now I have costed up that design.

Below are some of the suppliers I have found for the parts I might require.

Name of supplier Items required Reasons for choosing supplier
Technobots High power LED, equipment wire


Good prices , reliable and quick delivery
Sheet Plastics Clear Perspex Acrylic Sheet Low prices, offer cut to size option, have a price match guarantee
Creative Cables Fabric cable Good quality cable at reasonable prices
RS components Solder, cable sleeves, power adapter, plugs Cheap wholesaler prices, reliable company
Hardwood timber sales Wood Good quality timber at good prices, cut to size.
TLC Power Adapter Low prices, good customer service
The Plastics Shop Acrylic Rod Low Prices, bulk order, cut to size available.
Scarva Casting wax Reliable company, good prices
MB Fiberglass Silicon mould casting material Fast delivery, good prices
LED Supplies LED strip, power supply Low prices, large range of goods
Ultra LEDs LED light bulb Low price, 5 year warranty
Huws and Grey Plywood Low price, many different locations to pick up from, FSC Certified

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