Easy Start Up Small Business – To understand the concept of the small business plan example, let’s look at a scenario. We know you’re starting a new business or expanding and want to focus on the positive and the last thing you want to talk about is failure.
Have you ever wondered why businesses fail? For nearly 70% of businesses, failure is a fact, primarily due to lack of planning.
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Let’s say you and your family want to go to Paris next summer. During the day, you pack up, get in a car/bus/plane, and go there.
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Two weeks later, you’re on break, your phone is full of fun photos, and you can’t wait to get back home and tell everyone about the best time you had.
So, can you imagine doing this without planning ahead? Do you want to imagine what the holidays are like?
Looking at and reading a plan can be boring, but without a plan, mistakes will happen. If this applies to the fun things in our lives, imagine how much it should apply to entrepreneurship.
All businesses, no matter how big or small, start with an idea. But only when the idea is put on paper and developed into a business plan does it have a chance of becoming a reality.
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In this post, after first briefly describing small business plans and small business plan examples, I will discuss 9 small business plan examples for students and organizations and will help you analyze which one is right for you.
“Starting a business without a business plan is like mountain hiking without a map or GPS support – you’ll be lost and hungry”
Writing a business plan is very important for new start-ups as it will determine whether your business can succeed in this competitive business world.
Preparing a business plan is like sketching out the itinerary for a picnic. It doesn’t have to be too detailed, but it shouldn’t be too simple either.
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Also, you should have a simple positioning plan of where you want to go and how you can get there in terms of your startup’s potential and market competition.
You need to provide an objective and clear map that you can follow step by step as you grow your business.
Next, I’ll explain how to develop a business plan based on 10 components that will help you stay organized and guide you through the process.
While the exact structure of a business plan will vary depending on the needs of the business, I’ll help lay out 10 basic components that should be included before starting a new business.
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There are many reasons why you might need a business plan, although these reasons vary depending on the type of business you are starting and how you use a business plan. So, let’s look at some of the reasons why::
House on the Lake will create a competitive model. This model will be used for vacation boat rentals on Lake Shasta in Northern California.
Instead of buying houseboats, businesses will rent out small (up to six person) houseboats from existing owners to families and young couples.
As a result, the business will be profitable in its second year and a sizeable one in its third as owner and founder Robert Hopkins expands the offer from three houseboats to eight.
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Market rents will be very low, starting at about $600 for 3 days in low season.
Houses On The Lake will open with three vacation ships with the following goals:
Houses On The Lake will offer competitively priced vacation homeboat rentals for families and couples. As such, the company will provide families and couples with the balance of relaxation and fun they desire by offering activity options suitable for groups and individuals.
Houses On The Lake was founded by Robert Hopkins, a former bed and breakfast owner who moved to California after 20 years in business in Vermont.
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Houses On The Lake offers vacations for extended families and family groups. The business was incorporated in 2009 and launched in 2010 after financing.
Robert Hopkins started Houses On The Lake as a limited liability company. Robert will retain 100% of the company and will receive a loan to generate additional capital.
The U.S. vacation home market includes both local and long-distance tourists, including those from other countries. Therefore, the market is primarily segmented on the basis of age and family status.
Young Couples: Young couples between the ages of 21 and 39, without children, looking for a romantic getaway with plenty of activities to do.
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Elderly Couples: 40 and up, although some in this age group seek out quieter activities like fishing, easy hiking, etc.
Families: Couples or individuals with children who need a combination of relaxation for the people and high-energy activity for the young.
Houses On The Lake has the competitive edge in Robert Hopkins hospitality experiences. The impact of this advantage will be a high customer retention rate.
Houses On The Lake will provide potential tenants/visitors with excellent data through this marketing strategy.
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This website will target young couples and families interested in a Lake Shasta vacation as well as current Lake Shasta houseboat owners by:
Connect and build a relationship with a travel agency who will offer discounted price bundles to their clients.
Sales of Houses On The Lake will be managed by Robert Hopkins. They will receive booking requests from interested clients, approve them by email, respond by phone to answer specific questions, and do business through partnerships with travel agencies.
So this will include offering discounts to travel agents to offer travel packages to their customers. As such, sales will rely heavily on web booking application forms to close business.
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The website will prepare information for customers to better understand before booking. Roberts Hopkins will receive a base salary and be compensated for sales through business profits.
In other words, they have the right to change the advertised price, but will use this price at their sole discretion for the dates booked. They will also update the rates available on their website as well as the availability calendar as needed.
Houses On The Lake will be managed by Robert Hopkins. He will be personally responsible for operations, sales and marketing.
Robert will sell extra services to tenants who come to meet them to find out how he can help them by advising them.
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As such, they will also operate the marina, provide orientation and tenant support, schedule and oversee vessel cleaning through contract cleaning, repair and maintenance services.
The business will grow from three ships delivered in the first year to eight delivered in the third year. However, this can be done without enlarging the marina, since all of these are small boats.
Roberts Hopkins University will provide the majority of the equity investment from proceeds from the sale of the bed and breakfast business.
A credit card will provide a small amount of liquid debt. In addition, a three-year loan will be provided for the remainder of the financing.
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So gross margins will increase in the summer and next year because the cost of sales is lower during the summer when rates and prices are higher.
Website marketing includes $1000 per month for ongoing search engine marketing, $750 per month for search engine optimization, and $250 per month for website hosting and maintenance.
So, based on these forecasts, the business will lose money in year one and make money in year two, with Hopkins turning a healthy profit in year three as the number of ships it operates increases.
Fressen Catering is a catering company serving the Philadelphia market. Creative, colorful and varied food options for kosher and traditional standbys.
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Foodservice will then breathe new life into the Halal dining market, drawing on the culinary skills of Chef Susan Chefly to create innovative new dining options.
Susan’s industry insight, great skills and good market opportunity will enable Fressen Catering to be profitable in its 11th month and generate $395,000 in profits over three years.
Fressen Catering’s mission is to provide customers with the best halal catering. We exist to attract and retain customers. When we adhere to this maxim now, everything else will fall into place.
The key to success is meeting and exceeding customer demands for exceptional food quality and service.
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Philadelphia-based Fressen Catering will provide high-end halal catering to the Philadelphia community. So Fressen Catering will host parties for 25-300 people.
All food and drink provided will be under the strict supervision of Orthodox rabbinic authorities.
Items below that are considered assets that will be used for more than one year will be marked as long-term assets and will be depreciated using G.A.A.P. Approved straight-line depreciation method.
Fressen Catering will provide catering services for weddings, bar/mitzvahs and various other gatherings. Therefore, one of the main principles is
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