Business Plans for FVRA and Registration
Under the new audit process (1 July 2018), ASQA requires applicants to develop a detailed business plan that aligns with the Financial Viability Risk Assessment (FVRA) and the proposed RTO and CRICOS operations. We assist new providers with this process and work with the accountants to ensure that accurate information and projections are presented. Business plans need to be specific to the RTO and its proposed industry and operations.
Each business plan is developed uniquely for each RTO/business.
The business plan works as a road map for the RTO, providing business level analysis describing the RTO, industry/sector review and context, marketing and opertional plans, financial objectives and projections.
Our business plans are designed with RTO operations in mind and provide business and product level strategies and projections for continuous growth. The plans include;
- Executive Summary
- Background and Purpose
- Business Goals and Objectives
- Environmental Scan – Sector and Market Analysis
- Internal Analysis (SWOT)
- Marketing Plan
- Operational Structure and Management
- Financial Plans
The Business Plan acts as a dynamic management tool that can be regularly monitored to ensure the business is on course with meeting goals, sales targets or operational milestones.
A well-defined strategic plan sets the direction for a business’ future direction and its competitive positioning. A business plan consists of sub-plans such as operational, marketing and financial plans and sets out key business goals and objectives.
We have written successful strategic and business plans that have not only fulfilled compliance requirements but have been actually catalysts for strategic change and business improvement for RTOs and small businesses.
The financial plans are prepared by an accountant.
Based on the VMOSA technique, they set the future direction for the an RTO;
- Action Plans
The objectives are measured based on Key Performance Indicators (KPIs).
The Action Plan provides a step-by-step process of implementing the strategies.
The Strategic Plan, overall, provides a broad, organisation-level vision and set the direction to achieve it.
We conduct a brief review of RTO’s business, its market position and key characteristics through a questionnaire and talk to key personnel before writing a plan. Constant consultation is maintained as the plans are developed and drafts presented to the management for review before finalisation.
Ideally, the plans, once finalised, should be articulated to the the relevant executives and managers to ensure that they are effectively implemented.
Fees are based on the respective business situation/structure and requirements of the RTOs and depend on the complexity of the plan and time spent on gathering and compiling the necessary information. The Fee generally is worked out on a day-rate basis. We shall provide you with a quote for approval after the preliminary meeting.
Please Contact Us to arrange an obligation-free meeting to discuss your strategic and business planning needs.