fully baked -- business plan presentation

www.brooklynbusinesscenter.comwww. ewvidco.com

Developing a Business Plan: Clever Solutions to Daily Challenges

ERNIE SPEARS – SMALL BIZ DEVELOPMENT MANAGERespears@stnicksalliance.org

SECTIONS OF A BUSINESS PLAN

1. Executive Summary2. Copy (or Body)3. Numbers

BUSINESS PLAN SUMMARY

A. Business objectivei. Defined as a problem and solution

B.Business model i. Explain how you make $:

–Who pays you –Your channels of distribution–Your gross margins. (gross income/net sales, expressed as a %)

C.Unique selling propositioni. Describe the technology, secret sauce, or magic behind your product or service

D. Sales & Marketingi. Explain how you’re going to reach your customer and your marketing leverage points

E. Competitioni. Provide a complete view of the competitive landscape. Too much is better than too little

F. Management Teami. Describe the key players of your

management team board of directorsboard of advisors major investors

G.Financial Projections & Key Metricsi. Provide a 3 to 5 year forecast containing:• Dollars • Other key metrics,

a) number of customers b) conversion rate

H. Current Status & Use of Funds

i. Explain the current status of your product or service

ii. what does the near future looks likeiii. how will you use the money you’re trying

to raise

MARKET PLANNING

J. Marketing Strategy – Value Discipline

i. Innovation

ii. Cost/Price

iii. Customer Service

MARKET PLANNING

A. Products or Servicesi. What customer need or want is being filled?ii. What are the features & benefits of your products or services?iii. How will your product be made or how will your services be provided?iv. Who will supply the materials?v. What future products/services will you offer, and when?

Truck, Features & BenefitsTruck, Features & Benefits

FEATURESFEATURES BENEFITSBENEFITS

Truck box Hauling

Small engine Gas mileage

Big engine More power

4-wheel drive Can take off-road, won’t get stuck

Snow plow Earn or save money

Big tires Traction and safety

Custom package Luxury

MARKET PLANNING

B.Distributioni. How will your products or services be distributed?

Mittens Mittens -- ExampleExample

Retailer

Wholesaler

MARKET PLANNING

C. Industryi. What is happening in our industry (isit growing, stable, or declining?)ii. What do you believe the future holds for this industry?

MARKET PLANNINGD. Customersi. Who are your customers?

– what does your customer profile look like?ii. How many customers will your business have?iii. What information do you have that supports your

decisions about your customers?iv. What is the growth potential?

1. What is your plan for growth?

v. What information do you have that supports your decisions about growth?

MARKET PLANNING

E. Competitioni. Who are your main competitors?ii. What are their strengths and weaknesses?

Competitive Analysis Competitive Analysis –– Flower ShopsFlower Shops

Items Rated:

Competitor AGrocery Store

Competitor BGranny’s Floral

Competitor CFlowers Are Us

YOUR Floral Business

Total Scores 24 37 75 111

Number of categories rated

14 14 14 14

Average Score = Total / # categories rated

1.71 2.64 5.36 7.93

Greatest strength Location, convenience

Cute store, lots of charm

Product selection, quality, experience

Greatest Weakness

Poor selection and quality, no delivery or

wire service

Poor location, poor quality

Poor customer service and low

customer satisfaction

MARKET PLANNING

F. Positioni. What will your market position be?ii. What is your competitive advantage – why will customers buy from you instead of the competition?

MARKET PLANNING (CONT’D)

G. Image and Packagingi. What will the image of your business be?ii. What will your packaging look like?iii. What do your business cards and promotional material look like?iv. Where will your business be located, and why did you choose this location? Include a sketch of your floor plan.

H. Pricingi. How did you determine your pricing strategy?ii. How do your prices compare to the competition?

Pricing ComponentsPricing Components

Product/Service Product/Service CostsCosts

Variable Costs:

Labor-DirectRaw MaterialsParts for ResaleCommissionsPackagingShipping

Overhead CostsOverhead Costs ValueValue

Fixed Costs:

RentUtilitiesSuppliesPayrollInsuranceAdvertisingAutoInterest ExpenseRepairsOwner Draw

Owner Perceived:

Business Profit

Customer Perceived:

ImageServiceWarrantiesExpertiseConvenience

I. Marketing Goalsa. What is your dream – where do you see you business in

the next 2 to 5 years? b. What are your objectives for each of your goals? Why do

you think they are realistic, how will they be measured, and when will they be achieved?

OPERATIONS PLANNING

a. Who will handle which functions in the business?

b. What will their duties and qualifications be?

c. If employees, how many will you have and what will their duties be? (Onet.com)

OPERATIONS PLANNING

d. Who will hire, train and supervise them?

e. What will it cost your business for the first two years?

f. What will your owner draw be for the first two years?

OPERATIONS PLANNING

g. What will your employee salaries be for the first two years?

h. Who will your lawyer, accountant, insurance agent, and other advisory team members be?

i. How will you manage your record keeping, finances, and inventory?

OPERATIONS PLANNING

j. What licenses, permits, or regulations will affect your business? (www.nys-opal.com)

k. Will you have to collect and pay sales tax, and if so, how much and for which entity (state or city)?

l. What types of insurance will you need

M. What types of payments will you accept (cash, check, credit cards, house accounts, etc.)?

OPERATIONS PLANNING

OPERATIONS PLANNINGn. What contingency plans have you made for you?i. What will you do if:

i. You become sick or are injured, ii. In the event of a family or personal emergency that takes you

away from the business? iii. If your car breaks down?iv. Your day-care provider can’t take care of your kid/s today, or if

your kid/s are too sick to go to school?

Who will take care of the business? How much will it cost?

OPERATIONS PLANNING

o. What contingency plans have you made for the business?i. What will you do if sales are not what you expected? What will you do to increase them?ii. What will you do if costs are higher that you expected? What will you do to decrease them?iii. How will you make decisions to continue to stabilize or increase your cash flow and profits?iv. What will you do if a competitor lowers its prices?

CASH FLOW PLANNING1) Include a month-by-month cash flow projection for at least the first 2 full

years. 1) Include written assumptions (explanations) supporting your projections. 2) If your business starts or the plan starts during a year, the first year

projection will be a partial year. 3) There should be two full years of projections after the partial year.

2) Include at least two years of financial statements for existing businesses. (If not in business two years, include what is available).

1) Include, if possible, balance sheets and profit and loss statements.

3) Include your personal financial data: 1) Personal Financial Statement (Assets, Liabilities, and Net Worth)2) monthly income and expense statement (your personal financial plan)

START-UP April May June July August Sept Oct

TOTAL SALES

From Coffee

From Food

From Misc.

TOTAL CASH IN FROM SALES

CASH OUT FOR GOODS

Coffee

Supplies

TOTAL CASH OUT FOR GOODS

CASH OUT FOR OPERATIONS

Tax on wages

Electric

Telephone

Insurance

Licenses/Permits

Heat/Utilities

Accounting/Legal

Office Supplies

Repairs/Maintenance

TOTAL CASH OUT FOR OPERATIONS

Continued. . .

CASH FLOW PLANNING

Continued from previous slide START-UP April May June July August Sept Oct

NET CASH FROM OPERATIONS

OTHER CASH IN

Sales tax collected

Owner contributions

Loan from ____________________

TOTAL OTHER CASH IN

OTHER CASH OUT

Sales tax paid

TOTAL OTHER CASH OUT

NET CHANGE IN CASH

BEGINNING CASH

ENDING CASH BALANCE

CASH FLOW PLANNING

ATTACHMENTS

• Attachments should be provided to substantiate your claims in your plan.

• Always keep copies of the original documents for your files.

a. Two years of personal income tax returns if requesting a loan.

ATTACHMENTS (CONT’D)

b. Two years of business income tax returns. c. Credit application (form from the lender) if requesting a loan. d. Collateral documents (titles, abstracts, or other proofs of ownership) if requesting a loan.

e. Lists of assets to be acquired and their costs. f. Resumes of yourself and others who will work in the business. g. Market studies.

k. Letters of intent from customers to do business with you. l. Examples of your brochures, business cards, stationary and other materials.

Developing a Business Plan: Clever Solutions to Daily Challenges

ERNIE SPEARS – SMALL BIZ DEVELOPMENT MANAGERespears@stnicksalliance.org

fully baked -- business plan presentation

features amp

business plan

market planning

key metrics

contingency

clever solutions

partial year

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