Page 1 Etudes de faisabilité industrielle Business Plan (Plan d affaire)

Transcription

1 Page 1 Etudes de faisabilité industrielle Business Plan (Plan d affaire)

2 Les étapes du cycle de vie du projet industriel (adapté de UNIDO, 1991) Page 2 External client

3 Place des études de faisabilité dans la phase d avant-projet : Étape de validation / décision Analyse des besoins Besoins à traiter, identifiés Analyse des opportunités Page 3 Scénario 1 Scénario 2 Scénario i Sélection scénario optimal Eude de préfaisabilité Objectifs stratégiques Scénario x Données Eude de d ingénierie simplifiée CdC(F) Eude d avantprojet simplifiée Eude de faisabilité simplifiée Grandes options technicoéconomiques Données Eude d ingénierie détaillée Dossier technique détaillé (plan, fiches techniques..) APS (Avant projet simplifié) Eude d avantprojet détaillée APD (Avant projet détaillé) Eude de faisabilité détaillée Aspects commerciaux techniques financiers organisationnels règlementaires risques

4 Comment évaluer la faisabilité d un projet d entreprise ( 052.htm) Page 4 1. Définir des objectifs (à long et/ou court terme) Objectifs que l entreprise doit atteindre dans un délai donné Critères minimaux acceptables par l entreprise pour activité pérenne 2. Etablir des critères SMART (Specific, Measurable, Achievable, Realistic, Timely) 3. Avancer par étapes (faisabilité de management, faisabilité commerciale, faisabilité technique, faisabilité financière, gestion des risques, cf schéma) et, pour chaque étape, prendre la décision de continuer ou d abandonner

5 Page 5 Les différents éléments d une étude faisabilité industrielle (1/8) (étude réalisée pour le compte du PAM, 2010)

13 Formalisation d un projet de développement d activités : le Business Plan Page 13 Qu est-ce qu un Business Plan? «Un business plan ou plan d affaire, ou simplement plan d'entreprise, est un résumé de la stratégie d'entreprise, des actions et moyens qu un entrepreneur ou un cadre compte mettre en œuvre dans un projet entrepreneurial afin de développer au cours d'une période déterminée les activités nécessaires et suffisantes pour atteindre des objectifs visés.» (Wikipédia) «Document contenant le projet d'une entreprise, sa stratégie, ses prévisions et ses besoins. Ce document est souvent utilisé pour présenter une société à des investisseurs dans l'objet de lever des fonds» (Abcbourse) A quoi sert un Business Plan? «conforter le créateur sur la faisabilité de son projet, notamment sur l'aspect financier : rentabilité, cohérence du plan de financement, etc compléter le dossier fourni au partenaire banquier en vue de l'obtention du financement nécessaire servir de tableau de bord dans le suivi de l'entreprise lors du démarrage de l'activité» (Nicole Comes) Quand met-on en place un Business Plan? création d une entreprise lancement d un projet, renforcement d activités achat (ou cession) d une entreprise ou des éléments d actif

14 Contenu d un business plan typique (Quibel, Techniques de l Ingénieur, 2001) Page Résumé et but du plan 2. Caractéristiques de l entreprise Type d activité Nom de l entreprise et appellation de ses marques Localisation actuelle et future Forme juridique Propriétaires 3. Description de l activité Marchés, produits Recherches concernant l activité Facteurs de succès ou d échec Équipements requis 4. Étude marketing Marchés et segments Concurrence et environnement Fournisseurs Clients et prospects Réseaux de distribution Politique de prix Stratégie marketing 5. Outils de production Bâtiments Usines Machines et matériels Stockages Méthodes de production 6. Management et personnel Description des fonctions Managers Spécialistes Formation Organisation 7. Données financières Capitaux nécessaires Moyens de financement Chiffres d affaires et comptes de résultat Bilans Éléments financiers présentés sous forme de budgets Définition du point mort Cash-flows prévisionnels 8. Stratégies Objectifs à atteindre Types de stratégies à mettre en œuvre Méthodes et chemins pour les réaliser Époques et modes de révision du plan 9. Risques Principaux risques Époque, importance, conséquences, moyens et coût de leur limitation ou réduction Ressources : Exemples :

15 Page 15 Autres plans-types de Business Plan 1. Résumé du plan d'affaire : quels sont les points clef? 2. Genèse et contexte du projet: qu'est ce qui a été fait? où en est-on? 3. Équipe et encadrement 4. Analyse du marché 5. Produit et services offerts 6. Stratégie marketing et commerciale 7. Moyens et organisation 8. Dossier financier (avec projections découpées par années, voire par trimestres) Plan-type anglo-saxon Synthèse (executive summary) Besoin du client et Opportunité d'affaire Stratégie et étapes clefs Plan marketing Plan opérationnel Management et personnes clefs Projections financières Besoins et plan de financement Executive Summary ( Description de l'entreprise Ce thème peut être développé notamment avec un soupçon de rappel historique des projets passés. Les produits et les services Quel est le produit? Qui sont les clients? Quels avantages peut-on/peuvent-ils en tirer? Analyse de marché (Market analysis) Un chapitre essentiel. La connaissance du marché actuel et futur pour le produit en développement, tout comme la connaissance des besoins des clients, sont des thèmes primordiaux. Stratégie d'implantation Quels sont les leviers de succès de l'entreprise? L'équipe Qui sont les acteurs du projet? Quels seront leurs responsabilités et rôles respectifs? Plan de financement détaillé Profits, pertes prévisibles, cash flow. Quels sont les modes de financement? Quelle est la valeur des prêts à solliciter? Quelle en sera la rentabilité? Quelles sont les garanties pour les investisseurs potentiels?

16 EXECUTIVE SUMMARY A. Purpose of the business plan B. Main highlights C. Financial requirement 1. BACKGROUND A. Main products, markets and clients B. Location and premises C. Key data D. Legal form, ownership and management E. Historical development and track record of the business F. Business strategy and mission G. General organization/operating units 2. PRODUCTS AND SERVICES A. Product description and history B. Product attributes C. Research and development D. Product life cycle E. Costing and pricing 1. Costing 2. Pricing a. Buyer's standpoint b. Seller's point of view F. Production process G. Quality assurance and control H. Sourcing I. Intellectual property 3. MARKETS, CLIENTS AND COMPETITORS A. Introductory remarks B. Market characteristics C. Clients D. Competition E. Positioning F. Market strategy G. Projected sales Le Business Plan, selon l UNCTAD* (1/3) (How to prepare your business plan, UNCTAD, *UNCTAD = CNUCED (Conférence des Nations Unies sur le Commerce et le Développement) Page 16

17 Le Business Plan, 4. ORGANIZATION A. Location and premises selon l UNCTAD (2/3) 1. Location (How to prepare your business plan, UNCTAD, Premises B. Marketing 1. General remarks 2. Promotion and advertising C. Selling methodology D. Manufacturing E. Distribution F. Order processing and inventory control G. Company structure H. Project management I. Management information system/reporting 5. HUMAN RESOURCES A. Management 1. Shareholders 2. Board of directors 3. Executive management 4. Middle management 5. External support services B. Labour 1. Practical issues venture capitalists will check Attitudes and human characteristics of managers 3. Team spirit 6. LEGAL FRAMEWORK, AND ENVIRONMENTAL AND SOCIAL FACTORS A. Approvals and licensing requirements B. Social compliance issues C. Development and social benefits D. Environmental risks 1. The concerns of lenders 2. The concerns of investors Page 17

18 7. FINANCIAL PLANNING A. Introductory remarks C. Financial history D. Income statement projections E. Cash flow projection F. Balance sheet projections G. Important financial ratios 1. Liquidity ratios a. Current ratio b. Quick test ratio 2. Efficiency ratios a. Inventory turnover b. Accounts receivable turnover c. Accounts payable turnover d. Fixed assets turnover e. Total assets turnover 3. Profitability ratios a. Gross profit margin b. Net profit margin c. Operating profit margin d. Return on assets e. Return on equity f. Dividend payout 4. Solvency ratios a. Debt to equity ratio b. Total assets to equity ratio c. Total assets to total liabilities ratio d. Capitalization ratio e. Interest coverage ratio G. Methods for ranking investment project 1. Payback perio 2. Net present value 3. Internal rate of return H. Request for funds and other supporting information 1. Request for funds 2. Risk assessment 3. Start-up business financial information Le Business Plan, selon l UNCTAD (3/3) (How to prepare your business plan, UNCTAD, Page 18

19 GLOSSAIRE (1/6) (adapté de Perry s Chemical Engineers Handbook et UNCTAD How to Prepare Your Business Plan) Page 19 Amortization (fr : amortissement) : Gradual reduction of a loan (typically mortgage) through periodic back payments. Companies to write off intangible rights or assets such as goodwill, patents or copyrights also use this accounting procedure. Often used interchangeably with depreciation, but there is a slight difference depending on whether the life of an asset is known. If the period of time is known to be usually more than a year, this annual expense is amortization; however, if the life is estimated, then it is depreciation. Appreciation (fr : appréciation, prise de valeur) : An increase in an asset's value. Assets (fr : actifs) : Accounting term for everything a company owns and which has a monetary value listed in the balance sheet (cash, credit balances, inventory, equipment, real estate, etc.). Balance sheet (fr : bilan) : A statement of the assets and liabilities of a business at a given date. The assets side of the balance sheet provides information on the employment of funds, whereas the liabilities side details the procurement of funds (financing) and the composition of the shareholders equity. The assets must equal the liabilities plus the stockholders equity. Battery limit (fr : limite des unités de production) : A geographic boundary defining the coverage of a specific project. Usually it takes in the manufacturing area of a proposed plant, including all process equipment but excluding provision for storage, site preparation, utilities, administrative buildings, or auxiliary facilities. Book value (fr : valeur comptable) : Current investment value on the company books as the original installed cost less depreciation accruals. Break-even point (fr : seuil de rentabilité) : The percentage of capacity at which income equals all fixed and variable expenses at that level of operation. Capital ratio (fr : ratio du capital) : Ratio of capital investment to sales dollars; the reciprocal of capital turnover. Capital recovery (fr : recouvrement du capital) : The process by which original investment in a project is recovered over its life. Capital turnover (chiffre d affaires du capital) : The ratio of sales dollars to capital investment; the reciprocal of capital ratio. Cash (fr : trésorerie, chiffre d affaires) : Money in the company s current accounts in a bank and petty cash available in the office.

20 GLOSSAIRE (2/6) (adapté de Perry s Chemical Engineers Handbook et UNCTAD How to Prepare Your Business Plan) Page 20 Cash flow (fr : flux de trésorerie) : The flow of money payments to or from a firm. Expenditures are sometimes referred to as negative cash flow. Contingencies (fr : imprévus) : An allowance for unforeseeable elements of cost in fixed investment estimates that previous experience has shown to exist. Cost of capital (fr : coût du capital) : The cost of borrowing money from all sources, namely, loans, bonds, and preferred and common stock. It is expressed as an interest rate. Cost of sales (fr : coût de revient) : The sum of the fixed and variable (direct and indirect) expenses for manufacturing a product and delivering it to a customer. Depreciation (fr : dépreciation, dévaloriastion) : The decrease in value of an asset through wear and tear or other factors limiting its usefulness. Fixed assets are depreciated in the accounts by regularly reducing their book value in the balance sheet. Direct expense (fr:fraisdirects): An expense directly associated with the production of a product such as utilities, labor, and maintenance. Distribution expense (fr : frais de distribution) : Expense including advertising, preparation of samples, travel, entertainment, freight, warehousing, etc., to distribute a sample or product. Earnings (fr : gains) : Income after a company's taxes and all other expenses have been paid. Also called profit or net income. The difference between income and operating expenses. EBIT (fr: gains avant intérêts et taxes) : Earnings before interest and taxes. The figures are often used gauge the financial performance of companies with high levels of debt and interest expenses. EBITDA (fr: gains avant intérets, taxes, dépréciation et amortissement) : An acronym used in accounting to denote earnings before interest, tax, depreciation and amortization. Fixed assets (or long-term assets) (fr : immobilisations) : Land, buildings, machinery, tools and the equipment used by the company to carry on the business. Typically, anything classified under this heading has a useful life of longer than one year. This account may also be referred to as plant and equipment or buildings, machinery and equipment.

21 GLOSSAIRE (3/6) (adapté de Perry s Chemical Engineers Handbook et UNCTAD How to Prepare Your Business Plan) Page 21 Fixed capital (fr : capital fixe) : Item including the equipment and buildings. Fixed expense (fr : frais fixes) : An expense that is independent of the rate of output, e.g., depreciation and plant indirect expenses. Fund (fr : fond) : Any amount of cash, or of assets, quickly convertible into cash and which has been set aside or reserved for a particular purpose, such as the pension fund of a company. It is also an abbreviation for investment fund. Grass-roots plant (fr : usine sur site vierge) : A complete plant erected on new site including land, site preparation, battery-limits facilities, and auxiliary facilities. Gross margin (profit) (fr : marge brute) : Total revenue minus cost of goods manufactured. Gross national product (fr : produit national brut PNB) : An economic indicator of a country s economic activity. It is the sum of all the goods and services produced by a nation both within and outside its borders. Income (fr : revenu) : Profit before income taxes or gross income from sales before deduction of expenses. Income statement (or profit and loss account) (fr : compte de résultat) : A list comparing all income items and all expense items of a business for the past financial year. Indirect expenses (fr : dépenses ou frais indirects) : Part of the manufacturing expense of a product not directly related to the amount of product manufactured, e.g., depreciation, local taxes, and insurance. Interest (fr : intérêt) : A fee charged by a lending institution (bank) for extending a credit to a business or an individual person. The interest rate is the fee charged per annum. Internal funds (fr : fonds internes) : Capital available from depreciation and accumulated retained earnings. Internal rate of return (IRR) (taux de rendement interne TRI) : Discount rate "k" that equates the present value of future cash flows to the investment's cost (or equivalently the discount rate for which the NPV would be equal to zero). Inventory (fr : inventaire) : The quantity of raw materials and/or supplies held in a process or in storage. Inventory includes all raw materials, work in progress (partially completed items) and finished goods. Leverage (fr : effet de levier, effet démultiplicateur) : The use of borrowed assets by a business to enhance the return to the owner's equity. The expectation is that the interest rate charged will be lower than the earnings made on the money.

22 GLOSSAIRE (4/6) (adapté de Perry s Chemical Engineers Handbook et UNCTAD How to Prepare Your Business Plan) Page 22 Liabilities (fr : passif) : Amounts owed by a business to other businesses, banks or individuals. They may include accounts payable, wages and salaries, dividends, taxes and obligations such as bonds, debentures and bank loans Liquidity (fr : liquidité) : The ability of an enterprise to meet its payment obligations on time. In a wider sense it means the availability of cash and cash-like funds within a company, on the money and capital markets and within the national or world economy. Manufacturing expense (fr : frais de fabrication) : The sum of the raw material, labor, utilities, maintenance, depreciation, local taxes, etc., expenses. It is the sum of the direct and indirect (fixed and variable) manufacturing expenses. Marginal cost (fr : coût marginal) : The incremental cost of making one additional unit without additional investment in facilities Net income (fr : bénéfice net) : The amount left from the revenues after all the company's expenses, including taxes have been paid. Also called net earnings or net profit. Net present value (NPV) (fr : valeur actuelle nette - VAN) : Present value of future net cash flows discounted at the cost of capital, minus the present value of the cost of the investment. Net worth (fr : capitaux propres) : The amount by which assets exceed liabilities. It is also called shareholders' equity. Operating expenses (fr : charges d exploitation) : The sum of the manufacturing expense for a product and the general, administrative, and selling expenses.this category includes rent, salaries, telephone bills, advertising, and other expenses not included in inventory. Operating income (fr : résultat d exploitation) : Net income (or profit) excluding income derived from sources other than the company's regular activities and before income deductions such as depreciation and taxes. Also called net operating income or net operating loss. Operating margin (fr : marge d exploitation) : The gross margin minus the general, administrative, and selling expenses. Payout time (payback period) (fr : période de récupération) : The time to recover the fixed capital investment from profit plus depreciation. It is usually after taxes but not always. Production rate (fr : taux de production) : The amount of product manufactured in a given time period.

23 GLOSSAIRE (5/6) (adapté de Perry s Chemical Engineers Handbook et UNCTAD How to Prepare Your Business Plan) Page 23 Profit (fr : profit) : The income remaining after deduction of all expenses during a specific period. The gross profit is the total revenues minus the cost of goods sold. The operating profit is the gross profit minus general administrative expenses. The net profit is the operating profit minus depreciation, interest, extraordinary charges and corporate tax. Profit margin (fr : marge bénéficiaire) : A measure of a company's profitability, efficiency and cost structure that is calculated by dividing profits by sales. Return on investment (fr : retour sur investissement) : An important measure of how much the company earns on the money the company itself has invested. It is calculated by dividing the company's net profit (income) by its total assets. This measure is also called "return on assets". Revenue (fr : revenu) : Money a company takes in, including interest earned and receipts from sales, services provided, rents and royalties. Sales (fr : ventes) : Money a company receives from the goods and services it has sold. In some cases, the amount includes receipts from rents and royalties. For a business such as a pizza takeaway, sales refers to cash received over the counter in exchange for pizzas. For department stores, sales includes cash received, charge account purchases and credit card purchases. In this case sales does not always equal cash. Sales, administration, research, and engineering expenses (SARE) (fr : frais de vente, d'administration, de recherche, et d'ingénierie) : Overhead expenses incurred as a result of maintaining sales offices and administrative offices and the expense of maintaining research and engineering departments. This item is usually expressed as a percentage of annual net sales. Selling expense (fr : frais de vente) : Salaries and commissions paid to sales personnel. Taxes (fr : taxes) : In a manufacturing cost statement, usually property taxes. In an income statement, usually federal and state income taxes. Total operating investment (fr : investissment total d exploitation ou capital d exploitation) : The fixed capital investment, backup capital, auxiliary capital, utilities and services capital, and working capital.

24 GLOSSAIRE (6/6) (adapté de Perry s Chemical Engineers Handbook et UNCTAD How to Prepare Your Business Plan) Page 24 Turnover (fr : rotation, roulement ; chiffre d affaires) : In accounting terms, this is the number of times an asset is replaced during a set period. In trading, the volume of shares traded on the exchange on a given day. In employment matters, "turnover" refers to the number of employees replaced during a certain period divided by the total number of employees. In some countries the term refers to a company's annual sales volume. Utilities and services capital (fr : capital immobilisé pour utilités et services) : Electrical substations, plant sewers, water distribution facilities, and occasionally the steam plant. Value added (fr : valeur ajoutée) : The difference between the raw material expense and the selling price of that product. Working capital (fr:fondsderoulement): In the accounting sense, the current assets minus the current liabilities. It consists of the total amount of money invested in raw materials, supplies, goods in process, product inventories, accounts receivable, and cash minus those liabilities due within 1 year.

25 Page 25 Bibliographie 1. Etudes de préfaisabilité / faisabilité W.Behrens and P.M. Hawranek Manual for the preparation of Industrial Feasibility Studies UNIDO, Vienna, > logiciel Comfar 3 J.E. Austin Agroindustrial Project Analysis - Critical Design Factors EDI Series in Economic Development, The World Bank, John Hopkins Unjversity Press, > logiciel Mini-Agriventure, FAO Un exemple : et 2. Business plan How to prepare your business plan, UNCTAD,