Business Plan Example with Website for Financials Templates

Solution Preview

This business plan is for a business specializing in the production and distribution of infinity scarves (you can really take these notes and customize them for whatever business you would like this to be for). Also, I'm not sure how your plan should be organized, so I'm going to address the required portions in the notes along with brief notes on the three portions of the business plan--Concept, Market, and Financials.

My notes for the business are in flux for this document and you will need to pick and chose your business details before compiling your business plan. However, all the portions and examples are here to use along with websites listed for further examples.

Infinity ∞ Scarves
Business Concept:
This is the part of the business plan where you talk about your product and the industry you are trying to enter. You should also discuss how you feel your product will fit into the industry along with some description of your product. This is also where you discuss what your plans are to make your business successful and what you will do to help it thrive.

The current scarves industry is pretty saturated. However, there are not many businesses out there offering customizable infinity scarves. An infinity scarf is a circular scarf of a length long enough to wrap around the neck of the individual at least twice. They can be made of various materials, crocheted, or knitted. I expect to be able to enter the market filling the niche for people who want custom scarves for a specific outfit or outfits. To be successful, my plan is to offer many fabric and design options within a specified delivery period. The fabrics will be priced based on market pricing plus a small premium. Delivery times will be based on standard and express with a premium charged for express delivery.

Market Potential:
In this portion, you should look at who you believe your customers will be. You look at what they do, who they are, the compelling factors for purchase, and also look at competition possibilities. You should also describe how you believe your business will be able to overcome the competition. This could be through providing a better product, finding a niche, advertising, pricing, etc.

Customers of infinity scarves come from all ethnicities and walks of life. Women and men of all ages purchase these scarves for personal use and/or gifts. With my business, my plan is to focus on the market segment that makes more specialized purchases. I will be focusing on customers that have a specific outfit to accessorize or the person that wants to give a unique gift. These customers are generally in professional positions within companies and tend to make purchased from higher-end merchandisers. The competition I currently face is companies that mass produce scarves that are largely the same with little difference other than color or fabric choice. My company is different because my business offers fully customizable scarves--color, fabric, and length. I will be able to "beat" the competition by honing in on this niche market and drawing people away from the mass produced scarves and into my world of customized scarf accessories.

Financials:
In this final section, you present your financial statements.
*Income Statement
*Balance Sheet
*Accounting Ratios
*Cash Flows

You might also include information on short-run decisions to close down or long-run break even. Please see the last pages for examples of these documents.

https://www.score.org/resources/business-planning-financial-statements-template-gallery

Statement of Purpose: The statement of purpose for your small business defines your company's core goals and purpose. According to Web Marketing Today, an Internet marketing website, the statement also forms the basis for your small business's brand and the promises your company intends to make to consumers. A statement of purpose isn't as broad as a mission statement, which seeks to incorporate business strategies and procedures into the document. Instead, a statement of purpose focuses ...