Example of Business Plans for Small Business – Marriage Apparel
Marriage Apparel Retail Business Plan
1. Example Of Business Plans For Small Business Executive Summary
1.1. Business idea
EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY focuses on selling bridal and evening wear as well as men’s collections in a store in EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS LOCATION. The store is located in the city center of EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS LOCATION, which is expected to generate good revenue for both casual and regional customers.
The founder, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER, primarily targets women who are looking for a bridal gown for their wedding or an evening gown for a special occasion. Future grooms will also be offered clothing and accessories. The goods are procured from EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS SOURCE COUNTRY, where initially, an industry-related supplier from XXXX will assist in the purchase of the goods and custom-made products. In the long term, additional suppliers and partners are to be added. With her many years of commercial experience and her sales talent, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER will ensure that clients feel well and are well advised in their retail store and that the right garment is found for every occasion. The owner will attach great importance to flexibility towards her clients. An employed seamstress will be able to make small changes to the clothes at any time. Furthermore, it will be possible to arrange an appointment to try on, in order to have enough time for a comprehensive consultation.
Since finding the perfect wedding dress is an emotional affair for many women, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER focuses on plenty of inspiration and a pleasant atmosphere inside the store according to their store concept. With a strong online presence, personal fashion advice, a unique store concept, and the ability to customize tailor-made dresses or suits, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY will stand out from the competition and successfully establish itself. It is expected that the surrounding towns and villages will be the main market area of the business. In addition to providing a visually strong and meaningful website, local search engine optimization strategies are also used to ensure that customers can be found online in the whole of southern EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS REGION and beyond. With special offers and various promotions, the demand is continuously stimulated and ensured, especially in the important initial phase for sufficient customer frequency.
The vision of EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY is to be the premier destination for wedding and evening wear, as well as menswear for weddings in EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS REGION, offering every potential customer the right wedding garment.
In order to achieve this, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY has set itself the following goals: In the medium term, a solid customer base is to be established in the region. The long-term goal of EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY is, in addition to the strong regional positioning, to establish itself nationally as a mid-priced bridal-fashion business. Customers should appreciate the personal contact, the flexibility of the staff, and the unique shop concept, which makes you feel good. Following a successful establishment of the business and the creation of a stable customer base, the up-and-coming online trade is being developed as a second sales channel for the sale of bridal and evening dresses as well as menswear. To develop new sales channels, the owner plans to involve cooperation partners.
1.3 Product Spectrum
The main focus in the product selection is on selected wedding and evening dresses. Since the clothes are aimed mainly at XXXX customers, the style is chosen accordingly and provided a modern cut with traditional elements. At XXXX weddings, plain dresses are usually out of place. White or cream-colored dresses are designed sweeping and richly decorated with glitter and strass. When choosing the fabric, customers can choose among silk, velvet or organza, among other things. The dresses are embellished with lace, pearls or rhinestones. In the product range, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY also ensures that modern and popular colors are represented in the selection. There will be something for every wedding style, every season and every taste. In addition to the dresses, the customers are also offered matching accessories. These include bridal jewelry (tiaras, necklaces, earrings), shoes, veils, garters, boleros, stoles and handbags. A popular dowry at some weddings are gold bangles and other accessories also found in the store.
Gentlemen looking for suits, shirts, plastrons, vests, neckties, cufflinks or shoes for their wedding or special occasions will also find it here. When choosing the color of the suits, care is taken to ensure that every fancy customer request can be fulfilled. The product range is characterized by the fact that it aligns itself with the latest collections and color trends and customer wishes always have the highest priority. In terms of pricing, the owner orients herself at both current market prices and purchase prices. As an intermediary, the company will procure the finished or customized goods from the EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS SOURCE COUNTRY.
EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY is in many ways different from its competitors in the immediate vicinity. A striking unique feature will be the atmosphere in the shop. The customers will have plenty of room to try on. A catwalk serves to present oneself in the clothes and to put in scene. The right music makes for a pleasant and buoyant mood. The owner is aware that pictures of women wearing clothes can have a more psychologically positive effect on customers than wedding dresses on the clothes rail. Therefore, a running slide show with these images is played on a large TV on the wall. If customers see a dress on the screen that appeals to them, they can try it on immediately. Bring-in friends can relax on sofas and armchairs and enjoy chilled drinks as they examine the clothes on the bride-to-be. Furthermore, the customers are given the greatest possible flexibility. This is particularly evident in the ability to tailor a dress or suit to measure and desire directly in the EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY. In order to enjoy the individual service undisturbed, it is also possible to arrange an appointment for fitting.
Due to her experience in sales, she attaches great importance to the appearance and service-oriented nature of her employees. All employees will be dressed in black to convey a unified and harmonious overall picture. The selection of salespeople is based on experience and tone in order to ensure a consistent, friendly and sales-promoting service quality. For the first three years, the owner plans to personally advise customers and act as a salesperson. She brings not only experience in sales, but also comes up with a commercial background.
Another important feature is the personal contact with a relative in the EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS SOURCE COUNTRY, who has been dealing successfully with fabrics and dresses for many years and from whom the high-quality products can be obtained cheaply.
The business strategy is to differentiate itself from the competition in its external presentation through a professionally designed website and the use of social media channels, coupled with an SEO strategy for a good XXXX ranking. Thanks to a planned bilingual website, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY can address its target group of XXXX-born customers in a special way and build a bond of trust.
2. Market and Competitive Analysis
It is necessary to be able to assess whether a market entry can be successful and guaranteed. EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY will be able to set itself apart from the local competitors because the EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS SOURCE COUNTRY will first be illuminated as a textile country. Subsequently, the overall local consumer climate in relation to weddings is explained. In addition, the market conditions prevailing at EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS LOCATION in the realm of evening wear and bridal wear are analyzed. The still increasing online trend also plays an important role in the analysis of the market.
EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS SOURCE COUNTRY is one of the world’s leading textile suppliers. The textile and clothing industry is one of the most important industries in the country. The diagram below shows that EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS SOURCE COUNTRY has been steadily increasing its apparel exports from XXXX and even doubling it within X years. After a slump in export volume in the crisis year XXXX, with only XX, XX billion US dollars, the clothing industry has recovered. In XXXX, a total value of XX, XX billion US dollars was reached, a new all-time high.
[CHART, DIAGRAM, IMAGE or TABLE REMOVED]EXPORTING CLOTHES FROM THE EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS SOURCE COUNTRY IN BILLION US $ OF XXXX – FEBRUARY XXXX
EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS REGION is one of the most important trading partners for EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS SOURCE COUNTRY. Almost one fifth of all apparel exports are made to local customers. For them, the XXXX textile industry is no longer known only for cost-effective textile production, but increasingly also for their design expertise. Although many XXXX countries can produce and buy cheaper, for local customers (apart from the pay gap) factors such as proximity to the market, industry knowledge and experience, as well as the existence of a complete textile value chain are important. For this reason, the XXXX no longer counts solely as a producer of high-quality clothing, but also as a market for creative and modern designs. The market for wedding attire in EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS REGION is increasingly relying on the EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS SOURCE COUNTRY as producer and supplier.
In the year XXXX, the total number of weddings in EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS REGION reached a value above $XXXX (USD) for the first time since the year XXXX, while in the ten years before it has leveled off with small fluctuations between $XXXX (USD) and $XXXX (USD)
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A Number of marriages in EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS REGION XXXX – XXXX (Source: Statista)
Compared to the year XXXX, when more than XXXX marriages were concluded, the XXXX marriages in XXXX, also marked a significant decline. Despite this decline, business models in the context of weddings remain financially very well viewed. This is due to the fact that while the total number of weddings decreases, the expenses per wedding couple increase significantly. On average, wedding people can cost their wedding around the $XXXX (USD), which amounts to a total turnover of the wedding industry at about X billion dollars per year.
Source: www.braut.de, XX.XX.XXXX
The bridal gown takes nearly a tenth of the total cost. Thus, local wedding couples spend on average $XXXX (USD) per wedding dress. Including bridal shoes, the total expenses amount to over $XXXX (USD).
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A Spending on wedding dress and bridal EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS REGION (Source: Statista)
On the other hand, the trend towards bargain hunting on the internet is increasing at the same time. When choosing clothes, online shops such as XXXX (www.XXXX.com) are often consulted. At XXXX (www.XXXX.com), copies of well-known brand clothing are sold for a fraction of the price of the original product. Nevertheless, the overall market for weddings in EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS REGION continues to be an attractive environment with a high sales potential. An import of the wedding clothing from the EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS SOURCE COUNTRY makes sense in addition to the low purchase prices that many of the X, X million inhabitants of XXXX origin in EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS REGION like to wear traditional clothes from their homes at weddings. With her business model, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER meets exactly this customer need.
The competitive environment of the region is manageable and can be outdone with the above-mentioned unique selling points, especially with the focus on an emotional atmosphere and adequate marketing through online media. It is noticeable that few competitors have a website and in a XXXX search for bridal gowns in EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS LOCATION only “XXXX” (www.XXXX.com) appears in the search results. The owner, XXXX, had her shop three years ago in the same premises, which is now to be occupied by EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER. This competitor moves clearly in the high-price segment and appeals to target groups who value high-priced brands. In addition to bridal dresses, the product range also offers accessories as well as men’s clothing for weddings. Especially with regard to the professional appearance and the internet presence, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER will continuously observe this competitor.
Two other competitors are in the immediate vicinity of the future premises of EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY: “XXXX” and “XXXX”. The primary target group of these two competitors are price-conscious men and women, predominantly of foreign origin. Both competitors are only represented on the Internet on Facebook and do not operate their own website.
EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER plans to differentiate herself from competitors through quality, price, marketing and shopping experience. In light of the growing trend of online shopping, it is becoming increasingly clear that a store needs a special strategy that allows customers to enjoy what they cannot afford online. Weddings are associated with the desire for the “perfect” day. EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER wants to empower its customers to be inspired and dream in their store. To take the customers along emotionally as a concept will contribute in the long term to attracting customers from the whole of EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS REGION.
Their flexible assortment, the professional internet presence, and the modern shop concept, serve as differentiation factors. The clearest difference, however, will be that these dresses do not carry international brand names, but instead are customizable and shine with modern uniqueness. Flexibility makes it possible for every customer to have something suitable or be customized.
2.2 Target Group
EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER’s main offer is to focus on XXXX-born women of the XX-XX age group. XXXX lived around XXXX people of XXXX descent in XXXX, around XXXX of them are unmarried. Besides purely XXXX weddings, the number of binational marriages between XXXX-XXXX couples is also increasing. The owner already has numerous contacts in the XXXX area within this target group, and knows from experience that engagement parties and weddings play a very important role in the mentioned group. It is quite common for more than XXX guests to be invited to a wedding with XXXX cultural influence for up to three days. The choice of clothes plays an essential role and so it is especially in the wedding season for invited guests often the rule for every occasion to buy a new dress. It is also not uncommon for the bride to buy up to five dresses for different occasions: for the engagement party, the marriage ceremony at the registry office, and finally for the wedding. This buying behavior represents a huge potential for EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY.
However, the option of having clothes and suits made individually in the EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS SOURCE COUNTRY does not limit BUSINESS PLANS FOR SMALL BUSINESS FOUNDER to the target group mentioned above, but can carry out special promotions and marketing with communication measures to also serve other cultures.
She expects that at least XX% of her clients will be local, and will want a more tailor-made or elaborate piece of clothing, and will appreciate the flexibility of the business.
The first supplier for EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY is the XXXX Group based in XXXX.
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The XXXX Group has been in the bridal wear business since XXXX and owns four showrooms in XXXX. EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER maintains a very good personal contact with the Managing Director, who sees a high potential in the possibility of exporting goods to EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY and is therefore prepared to submit attractive price offers.
To increase flexibility, further suppliers will be developed over the years and the supplier portfolio will be expanded. In addition, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER plans to visit the international wedding fair in the XXXX city of XXXX in February XXXX. Almost XXX exhibitors meet there to present their wedding attire for the bride and groom and showcase the latest collections. The visit of this fair should serve besides the collection of new collections also for the purpose of the inspiration and the structure of new supplier relations.
External risks are the ever-changing sales market and the possibility of a recession. In order to mitigate a potential loss of sales, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER will be cost-conscious and run a tight organization to carefully manage its existing reserves. She will work on sales for the first few years and will only hire more salespeople as the business grows. The business model, which is geared to growth, sets itself the goal of opening up new sales markets, such as online retailing, after regional establishment and thereby contributing to the compensation of possible regional declines in demand.
An internal risk is the personnel risk, which could occur if the trained personnel quit. Since these bodies are not central management units, whose loss of important knowledge is lost, this risk is considered to be low. EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER prevents this with a contractually agreed notice period of three months. Thus she has enough time to find and teach substitutes. In addition, further risks such as transport risks, storage risks or illness-related default risks are minimized by taking out the corresponding insurance.
Due to international trade, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY is exposed to currency risks. At the moment, the dollar price is on a par with the XXXX, which presents itself as an opportunity, not as a challenge to the business of EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY. In the future, the proprietor, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER will monitor the exchange rate market and take advantage of any exchange rate fluctuations.
The manager wants to rent a retail space on the ground floor of a four-story residential and commercial building in EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS LOCATION. This is located directly in the city center opposite the old town and only about XXX meters from the pedestrian area and the shopping street XXXX. Because of a bus stop, which is located directly in front of the shop, a comfortable accessibility by public transport is guaranteed. The lease will be finalized upon receipt of financing.
The total of XXX, X m² provide the owner enough space to exhibit many clothes and yet to convey a certain exclusivity, which visually does not overtax the customers and contributes to a feel-good atmosphere.
Another advantage is that in the past, the premises served as a retail space for another bridal shop for some twenty years. This factor could be advantageous in that it creates a recognition value for the residents.
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The location of the store on Lederstraße XXX (Source: Google Maps)
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On the ground floor and directly at the bus stop, there is plenty of space for outdoor advertising (source: rental offer of Franz Hahn Immobilien e.K.)
The product range will always correspond to the wishes of customers and will reflect the current fashion in the area of bridal wear and evening dresses. EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY has set itself the goal of catering to the full range of wedding guests. From the groom to brought children, there will be something suitable for everyone. After a short learning phase, it becomes clear which goods demand is particularly high. These products can then be increasingly bought by the supplier and kept in stock. Shirts and shoes are always kept in stock to avoid bottlenecks and thus customer churn in relation to these products.
Due to the focus on customer orientation, complaints are dealt with quickly and in an accommodating manner. The good relations with the supplier, and the presence of own tailor are advantageous, which will lead to fast results and consequently to a high customer satisfaction and loyalty.
A consistent analysis of demand and the realization of cost savings at the purchasing level keep the conditions for customers at a good range. If the customers are satisfied with the choice of products, with the professional advice and the flexibility with customer wishes, one can expect a presence in the perception of the customers, which is gladly communicated further to acquaintances and relatives.
4.2 Pricing Policy
When setting pricing policy, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER seeks market-oriented pricing that is driven by both, competition and demand. Final prices to customers are in the mid-price range at EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY. To stimulate demand, there will be special offers or promotions every now and then. Examples include discounts on dresses from older collections, raffle tickets with the option of winning a dress, and vouchers for the groom or hen parties when buying a wedding dress.
Low-priced purchasing in EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS SOURCE COUNTRY is expected to yield high profit margins. As soon as a solid customer base is established, even a more exclusive clientele can be addressed with a product extension and margins can be extended with higher product prices. The upper price limit remains determined by demand.
4.3 Communication Policy
In order to set herself apart from the competition, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER is planning a mix of classic and modern communication methods for addressing customers. Since a wedding is a particularly emotional event for many, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY will be geared to the choice of marketing tools and communication design. The location of the store is designed for meaningful and representative outdoor advertising, as seen in the image below. Parts of the facade can be used for advertising purposes. In addition, an attractive window advertising ensures that the business daily many thousands of passers-by. In addition, the heavily frequented situation causes runaway customers. Within the shop, an appealing and cozy interior provides the desired feel-good atmosphere.
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Storefront along the XXXX (Source: XXXX)
In order to gain regional recognition and build up a customer base, direct promotion through flyers, advertising in the official journal, as well as a referral bonus programs, are used as appropriate marketing methods. High quality business cards will also be helpful to be perceived by potential customers and partners as a credible provider. Collaborations with relevant regional shops, such as a pastry shop or a catering service, will lead to further success and strong brand awareness. For the expansion of the awareness of the southern local area, participation in regional wedding fairs is planned. So that potential customers can also be addressed nationwide and a long-term business success sets in. Professionally designed internet presence, including the active use of popular social media channels such as Facebook and Instagram, is indispensable. It is intended to address the customers in two languages. This strategy is specially tailored to the target group, since a trusting relationship is established with the mainly XXXX-based customer base. In the long term, additional languages can be added.
Internet advertising, especially XXXX and banner advertising should draw attention to the store. An e-mail newsletter with wedding-relevant content picks up the target group emotionally and brings added value, resulting in customer loyalty. Selected images are used in social networks on the Internet to arouse emotions and thus to stimulate purchasing decisions. In general, visual material will be in the foreground of customer communication. A professional internet presence also includes the opportunity to communicate with the employees of the business. In order to be able to answer customer inquiries as quickly as possible, an e-mail account will be set up.
Local search engine optimization will ensure that the EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY website is quickly found in conjunction with EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS LOCATION and Southern EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS REGION.
In the medium term, direct sales in the store of EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY is the primary sales channel. The reason is mainly due to the value of the fitting experience as well as the personal advice that many customers do not want to miss. The communication policy will help to make EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY known throughout the whole of EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS REGION, and to achieve not only a high level of coverage, but also widespread coverage of sales in Southern EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS REGION. Wedding fairs are also a good place to introduce the collection and to sell valuable unique pieces.
However, as noted in the competitive analysis, online trade as an indirect distribution channel is another sales channel that is becoming increasingly popular. In the long term, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY can rise to this trend and sell the bridal fashion in its own e-commerce store or through classifieds such as XXXX or XXXX.
5. Business Organization
5.1. The Founder
The bridal business is led by EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER. She is a trained businesswoman for office communication and worked for XXXX and in XXXX for two years, before she made a move to XXXX She completed her training this year, and has since then concentrated on preparing for her bridal fashion business, including researching suppliers. In addition to her commercial experience and her excellent IT skills, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER contributes with her strong communication skills and diverse experiences in contacts with clients. She was able to hone her job during her four years as a service staff at XXXX and at XXXX.
In EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS REGION, there are about XXXX entrepreneurs, who employ a total of around XXXX workers and generate annual sales of about XX billion dollars. These entrepreneurs, as well as BUSINESS PLANS FOR SMALL BUSINESS FOUNDER, combine qualities such as reliability and diligence with flexibility and improvisation in difficult situations. EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER also describes herself as an ambitious person who seeks a solution until it is found. She has intercultural competence, which enables her to serve clients of all backgrounds. Their understanding and friendly, customer-centred approach, make the right mix for the long-term success of EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY.
In addition to the Managing Director, in the first two years of the business, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY will also employ a salesperson in direct sales. She will be in charge of selling and presenting the clothes directly with EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER, but will also be in charge of administrative expenses, internet presence and general cleanup. As soon as a loyal customer base generates steady revenue, additional temporary staff and, if necessary, part-time staff will complement the team so that they can increasingly withdraw from their operations and focus on expanding their business and other channels of distribution. In addition, a seamstress is employed to make necessary adjustments quickly. A sewing machine and fabrics are provided for this activity.
The accounting department will be taken over by the tax adviser XXXX from the tax consulting firm “XXXX” in the example of BUSINESS PLANS FOR SMALL BUSINESS LOCATION. He handles monthly taxes, electricity, internet and telephone bills, account statements and does some work such as sales tax filing and annual accounts.
5.3. Legal form
EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER selects the legal form of a sole proprietorship for EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY. This is relatively inexpensive and bureaucratic, and accounting offers a manageable effort. In addition, no corporation tax is payable. Although the individual entrepreneur is liable with private assets, the risk is low with good corporate governance.
5.4. Financial plan
5.5. Investment and cost structure
The initial investment of a total of $XXXX (USD) amounts mainly to the rental, renovation and design of the store, as well as on product procurement. The initial warehouse worth $XXXX (USD) will primarily consist of bridal and evening dresses, matching accessories and men’s suits.
5.6. Fixed costs
The fixed cost portion of the EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY is mainly accounted for by office rent and personnel. Accounting, telephone, travel and energy costs also represent a share of the expected fixed costs. Care is taken to conclude long-term contracts in order to avoid possible fluctuations in fixed costs and to ensure maximum planning reliability. Hiring a second salesperson increases personnel costs from the Xth fiscal year.
5.7. Variable costs
Since no goods purchases are made in addition to the initial investments in the first three months, no direct variable costs are incurred here either. Only from the fourth month, transport, storage costs and customs fees are expected. As sales are subject to seasonal fluctuations and purchases of goods are directly dependent on them, increased variable costs are to be expected in the wedding season from May to September. To a lesser extent, marketing costs can also be added to the variable costs. These will primarily be incurred during the first few months of operations in order to increase the profile of EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY.
5.8. Explanation of turnover and operating result
It is expected that lower sales will be achieved within the first two months, as EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY will first have to achieve regional awareness. From the third month, five-digit sales figures are expected, but they are subject to seasonal fluctuations. As expected, sales are highest in the wedding season from May to September, while lower sales figures can be expected during the winter months. In the first fiscal year, this will generate a total revenue of $XXXX (USD). In the second and third financial year, sales growth of XX% is expected
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Sales development of financial years X – X (Source: Financial plan)
With a share of XX%, bridal gowns represent the main sales driver of EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS COMPANY. Evening gowns also play an important role with XX% of total sales. Additional sales are achieved with accessories and menswear.
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Share in sales by product (Source: Financial plan)
These sales figures mean that the break-even point can be reached within the second financial year. After a negative operating result before taxes of $XXXX (USD) in the first financial year, a positive EBT of $XXXX (USD) can already be achieved in the second financial year.
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Operating profit before taxes, financial years X – X (Source: Financial plan)
As a start-up capital, EXAMPLE OF BUSINESS PLANS FOR SMALL BUSINESS FOUNDER plans to contribute an equity investment of $XXXX (USD). A target debt financing of $XXXX (USD) is sought to supplement the deposits and provide a material basis for a successful market launch.