sample of a business plan

sample of a business plan

Developing a Business Plan

1. Executive Summary

The executive summary is often considered the most important section of a business plan. This section briefly tells your reader where your company is, where you want to take it, and why your business idea will be successful. If you are seeking financing, the executive summary is also your first opportunity to grab a potential investor’s interest. The executive summary should highlight the strengths of your overall plan and therefore be the last section you write. However, it usually appears first in your business plan document. Executive summaries may be more common for traditional businesses pursuing traditional forms of financing. This material may not be published, broadcast, rewritten, or redistributed. © 2017 FOX News Network, LLC. All rights reserved. All market data delayed 20 minutes. The following is how an Executive Summary for a bicycle rental store might read.

2. Company Overview

Our Key Objectives In the short term, CECL plans to maintain its reputation through execution and timely delivery of high-quality products and services. At the same time, to continue to undertake and successfully finish the various types of projects in its core businesses. In the long term, CECL plans to strengthen its financial position and gradually increase its involvement in international projects. This is to support the overall aim of providing quality products and services to improve the standard of living in our society.

Our Mission The mission of CECL is to provide quality products and services in our core businesses. Our aim is to provide good customer service and ultimately build a long-term relationship with our clients. This is achieved through our professional expertise and the ability to execute diverse projects to the satisfaction of our clients and their requirements.

Introduction to the Company Central Equipment Company Limited (CECL) was founded in the late 1980s. Our core business activities are the supply of goods and services that can be attributed to enhancing the aesthetic value and the functionality in our society. Over the years, we have established a reputation as a reliable, efficient, innovative, and quality-driven company, with multiple project references for well-known buildings and facilities in Singapore. CECL is a private limited company located at 63 Hillview Avenue #10-20 Lam Soon Industrial Building Singapore 669569. At the moment, our office and factory occupy about 7000 sq ft of land.

3. Market Analysis

It is important to note that undertaking market research on an existing industry is different from researching a new product. In the former case, you should research and describe what currently goes on in the industry and not what consumers think about it. This is because your aim is to find a gap in the market that you can apply to your product. An excellent resource is published research. In the case of a new product, market research is often data collection on consumer opinions.

– A competitive analysis: Lastly, you should provide a thorough competitive analysis. This is often presented in a tabular form where you can re-use much of the information from what you have already researched. The analysis should be supported by graphs where possible and should also discuss the relative strengths and weaknesses of your last two rivals. This is the end of the descriptive elements of the plan and frames the information thereafter.

– A target market description: Although you have defined this elsewhere in your business plan, there is no harm in repeating it given how important it is. You should provide a detailed description of the target market for each of your last two competitions. Make sure this is specific and differentiated. This part is crucial as it is what frames your subsequent marketing strategy.

– An industry description and outlook: Define the industry that you intend to work in and why you believe this is possible. There should be a defensible argument for why this is a good industry to be involved in. The industry is usually defined by a relevant Standard Industry Classification (SIC) code. You should research this code for your small business and include it in this section. It will enable public sector access to the industry more easily.

The market analysis section should reveal your knowledge about the particular industry your business occupies. It should show that you have sound knowledge of your market. For each of the last two, it should contain the following elements:

4. Marketing and Sales Strategy

Marketing is the process that will be used to attract the customers, keep and satisfy them. Marketing will be helpful to seek the potential customers and make them aware of the product that we are going to sell. There are many ways that can be used to market a product and for this business, the best strategy that can be used to market the products is through online marketing. This business will use social media platforms like Instagram and Facebook to market the products. There are more than 20 million people who use FB and Instagram. So, this will be a great platform to market the products. But we don’t know how to use an advanced marketing strategy for the business. So, we still need to learn it through online or government agencies. Because there are a lot of benefits if we use online marketing to market the products. There are many types of sales strategies that have been used by the business. But a good sales strategy should include communication between the seller and the customer and should have a win-win solution. So, this business will use a relationship sales strategy. This strategy aims to create a long-term relationship between the seller and the customer. This is because we sell unique goods and the prices are reasonable, so we must have good communication between the seller and the customer. And for the win-win solution, we will offer many benefits to attract the customer like free shipping, discounts, and others. This should have a good impact because we want to keep the customer to repurchase again.

5. Financial Projections

This is first done for the whole of the rest of the provisional accounting period so that a provisional figure for the rest of year one can be established. Then the same technique is repeated expense by expense to build a detailed monthly breakdown for the remaining period.

How to Prepare an Income Statement Producing an income statement simply involves estimating future sales and matching them to costs. As shown by the equation: Sales in a period – Costs of sales = Gross profit

Income Statement The income statement is a simple and straightforward report on money generated or money lost of the course of a month. After providing an analysis of the profit performance of the business through the provisional accounts, the rest of the income statement builds detailed projections for each accounting period.

The projections will be judged by: – The numbers relationship to what has gone before elsewhere in the plan. – The assumptions to which they have been tied. – The level of precision and judgemental credibility stipulated. – The way in which they enhance the readers understanding of the key influences and timing issues in the future cash flows of the business.

The aim of financial projections is to outline your financial projections for the business. It is an integral part of your business plan and helps you to support the projections outlined in the rest of your plan by outlining the financial future of the business. The following illustration outlines the basic format for the financial projections section including simple explanations of the various items.