In compliance with BrainMass rules this is not a hand in ready business plan but is only guidance.
The business plan is for setting up a business unit in the Camden Industrial area of Minnesota which will produce and market plastic molded toys. The unit will make plastic molded toys that are currently in demand and market them through toy retailers in Minneapolis. The key strategy of the business will be to closely study the trend and fashion by examining point of sales data at the retailers. The molded toys will correspond to the current demand. The information will be used for making designs, molds, and plastic molded toys. Responsiveness to market demand will be the key to success. The business will have a sales team and a production team which will work in close coordination (1). The business expects to sell 500,000 plastic molded toys in the first year. The expected earnings during the first year are $1 million. The breakeven production is 250,000 units.
The business planned is a molded toy making unit located at Camden Industrial Area in Minnesota. The Camden industrial area is located in Hennepin County and has the neighboring areas of Victory, Folwell, Lind-Bohanon, Mckinley, Shingle Creek, Cleveland, and Webber-Camden (2). The location of the molded toy making unit is important because of availability of raw materials, skilled workers, and access to the market of the Twin Cities.
Molded toys have a good demand in the Twin Cities especially if the toys correspond to those in demand. The business will ascertain the designs for which there is demand, design the toys, mold them, finish them, and pack them before selling them to retailers in Minneapolis. I have experience in designing, and molding plastic toys. Also, I have contacts with some toy retailers in Minneapolis. The business will be organized as a Limited Liability Company. This structure has been selected because it provides a choice of tax regiment, can have multiple members, and provides limited liability protection (3). Another advantage is that I can start business with the LLC with just myself as the shareholder. Making plastic molded toys can be profitable provided the toys made correspond with toys in high demand. Typically, those toys that correspond to current children's movie characters, game characters, and latest cartoons are in high demand. The main business strategy is to get current information about trends and fashion in toys, design and develop the toys based on ...
The answer to this problem explains a business plan. The references related to the answer are also included.