Business Plans for Start Up Export Trading Companies
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A good retail business plan gives the retail firm a pathway to profit. This retail trading business plan sample business plan retail store retail trading business plan is designed to help an owner-manager work up a sound business plan.
To profit in business, you need to consider the following questions: What business am I in? What goods do I sell?
Where is my market? Who is my competition? What is my sales strategy? What merchandising methods will I use? How much money is needed to operate my store?
How will I get the work done? What management controls are needed? How can they be carried out? When should I revise my plan? Where can I go for help? As the owner-manager, you have to answer these questions to draw up your business plan. The pages of this Guide are a combination of text and suggested analysis so that you retail trading business plan organize the information you gather from research to develop your plan, giving you a progression from a common sense starting point to a profitable ending point.
The success of retail trading business plan retail store business depends largely upon the decisions you make. A business plan allocates resources and measures the results of your actions, helping you set realistic goals and make logical decisions.
You may be thinking, "Why should Retail trading business plan spend my time drawing up a business plan? What's in it for me? Remember first that the lack of planning leaves you poorly equipped to anticipate future decisions and actions you must make or take to run your business successfully. A business plan Gives you a path to follow.
A plan with goals and action steps retail trading business plan you to guide your business through turbulent often unforeseen economic conditions. A retail plan shows your banker the condition and direction of your business so that your business can be more favorably considered for retail trading business plan loan because of the banker's insight into your situation.
A plan can tell your sales personnel, suppliers, and others about your operations and goals. A plan can help you develop as a manager.
It can give you practice in thinking and figuring out problems about competitive conditions, promotional opportunities and situations that are good or bad for your business. Such practice over a period of time can help increase an owner-manager's ability to make judgments.
A second plan tells you what to do and how to do it to achieve the goals you retail trading business plan set for your business. In making your business plan, the first question to consider is: What business am I really in? At first reading, this question may seem silly. Some owner-managers have gone broke and retail trading business plan have wasted their savings because they did not define their businesses in detail. Actually they were confused about what business they were in.
Look at an example. Jet maintained a dock and sold and rented boats. He thought he was in the marina business. But when he got into trouble and asked for outside help, he learned that he was not necessarily in the marina business. He was in several businesses.
He was in the restaurant business with a dockside cafe, serving meals to boating parties. He was in the real estate business, buying and selling lots. He was in retail trading business plan repair business, buying parts and hiring a mechanic as demand rose. Jet was trying to be too many things and couldn't decide which venture to put money into and how much return to expect.
What slim resources he had were fragmented. Before he could make a profit on his sales and a return on his investment, Mr. Jet had to decide what business he really retail trading business plan in and concentrate on it.
After much retail trading business plan, he realized that he should stick to the marina format, buying, selling, and servicing boats. Decide what business you are in and write it down - define your business. To help you decide, think of answers to questions like: What do you buy?
What do you sell? Which of your lines of goods yields the greatest profit? What do people ask you for? What is it that you are trying to do better or more of or differently from your competitors? Write it down in detail.
When you have decided what business you are in, you are ready to consider another important part of your business plan. Successful marketing starts with the owner-manager. You have to know the merchandise you sell and the wishes and wants of your customers you can appeal to.
The objective is to move the stock off the shelves and display racks at the right price and bring in sales dollars. The text and suggested working papers that follow are designed to help you work out a marketing plan for your store. In retail business, your sales potential depends on location. Like a tree, a store has to draw its nourishment from the area around it. The following questions should help you work through the problem of selecting a profitable location.
On a worksheet, write where you plan to locate and give your reasons why you chose that particular location. Now consider these questions that will help you narrow down a place in your location area. Again, write down the reasons for your opinions. Also write out an analysis of the area's economic base and give the reason for your opinion. Is the area in which you plan to locate supported by a strong economic base? For example, are nearby industries working full time? Did any industries go out of business in the past several months?
Are new industries scheduled to open in the next several months? When you find a store building that seems to be what you need, answer the following questions:. Is the retail trading business plan new and on the way up? The local Chamber of Commerce may have census data for your area. Census Tracts on Population, published by the Bureau of Census, may be useful. Other sources on such marketing statistics are trade associations and directories.
What is the occupancy history of this store building? Does the store have a reputation for failures? Have stores opened and closed after a short time?
When you think you have finally solved the retail site location question, ask your banker to recommend people who know most about location in your line of business. Contact these people and listen to their advice and opinions, weigh what they say, then decide. When you have a location in mind, you should work through another aspect of marketing. How will you attract customers to your store?
How retail trading business plan you pull business away from your competition? It is in working with this aspect of marketing that many retailers find competitive advantages.
The ideas that they develop are as good as and often better than those that large companies develop. The work blocks that follow are designed to help you think about image, pricing, retail trading business plan service policies, retail trading business plan advertising.
A store has an image whether or not the owner is aware of it. For example, retail trading business plan some merchandise onto shelves and onto display tables in a dirty, dimly lit store and you've got an image. Shoppers think of it as a dirty, junky store and avoid coming into it.
Your image should be concrete enough to promote in your advertising and other promotional activities. For example, "home-cooked" food might be the image of a small restaurant. Write out on a worksheet the image that you want shoppers and customers to have of your store.
Value received is the key to pricing. The only way a store can have low prices is to sell low-priced merchandise. Thus, what you do about the prices you charge depends on the lines of merchandise you buy and sell. It depends also on what your competition charges for these lines of merchandise.
Your answers to the following questions should help you to decide what to do about pricing.