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Strategic Analysis with current research! Furniture StoreInc. The Company was founded by John Doe.
Doe is currently sourcing a number of furniture manufacturers, distributors, and wholesalers that will provide the Company with its inventories via direct purchases and on credit until sales are made. Doe will also develop relationships with interior decorators and design firms so that these businesses can source furniture for their clients through the Furniture Store.
The third section of the business plan will further describe the services offered by the Furniture Store. The interest rate and loan agreement are to be further discussed during negotiation.
Doe has more than 10 years of experience in the retail management industry.
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Through his expertise, he will be able to bring the operations of the business to profitability within its first year of operations. Doe expects a strong rate of growth at the start of operations. Below are the expected financials over the next three years. Doe intends to implement marketing campaigns that will effectively target individuals and interior design firms within the target market.
The Company is registered as a corporation in the State of New York. Below is a breakdown of how these funds will be used: Doe is not seeking an investment from a third party at this time.
Doe may seek to sell the business to a third party for a significant earnings multiple. Most likely, the Company will hire a qualified business broker to sell the business on behalf of Furniture Store, Inc.
Based on historical numbers, the business could fetch a sales premium of up to 6 times earnings.
As stated in the executive summary, Mr. Doe is currently sourcing a number of manufacturers, distributors, and wholesalers that will provide the business with its inventories via direct sales and on credit until sales are made.
All of the furniture sold by the business will be of the highest retail quality.
Doe will also seek to gain distributor status among popular furniture manufacturers so that the business can increase its gross margins. The business will also develop an online sales platform which will include a proprietary website as well as online stores developed in conjunction with major online sales platforms such as Yahoo, Google, Amazon.
This will allow the Company to more rapidly turnover its inventory at the onset of operation. Finally, the Company will work closely with a sourced financing provider so that customers can apply for credit in regards to their big ticket furniture purchases.
This is common practice among furniture stores. This is a mature industry, and the expected future growth rate of this market is expected to mirror that of the general economy.
One of the most common trends among furniture retailers is to develop e-commerce platforms that operate concurrently with their traditional brick and mortar retail locations.
In this section, you can also put demographic information about your target market including population size, income demographics, level of education, etc.
The key to writing a strong competitive analysis is that you do your research on the local competition. Find out who your competitors are by searching online directories and searching in your local Yellow Pages. Below is an overview of the marketing strategies and objectives of the Company 5.
Doe intends on using a number of marketing strategies that will allow the Furniture Store to easily target men and women within the target market.This page is part of our Starting a Craft Business learning module.. If you have an idea and don’t know how to get started, the great news is that there is a lot of help out there.
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The background is a stock chart. Cons of using a business plan template: While there are benefits to using a business plan template, depending on your situation it may not be the best way to complete your plan.
There is still going to be a lot of work involved. We have three templates you can use to do your business plan kindly offered by SCORE and Bank of Scotland.
There are two for preparing the narrative of your plan (One for a startup business and the other for an existing business) and a cash flow template.