After a day’s work, I headed to my oasis, a watering hole for the thirsty soul … yes, a beer bar! I walked up unequal steps to the sit out on the first floor that overlooks a busy street. The beer there is draught, light on the belly and prices light on the wallet. I sat down and waited for my temporary nirvana to arrive frothing at the rim.
As I looked down, out into the street, the cold beer swirled around my mouth and found its gentle path down my interior, bringing a much-needed salve to a weary me. I sat thinking about time and its quirky ways. Soon, a tall fella, an American with long hair, came and sat some distance away. He sipped morosely at his tipple. I observed him for a while and then called out to him, inviting him to join me at my table. He graciously accepted, carrying his mug of the golden liquid across. Introductions over, we started chatting about work. He said he was the CEO of a BPO and had recently been let go because his salary of a couple of lakhs (hundred thousand/s) in addition to a bonus was too high for the Canadian company that owned the business and how they had found an Indian to take over as CEO at half the expense.
He said he was now looking for funding to start his own venture. I heard his business plan and how he had customers lined up, and how the venture would break even in under a trimester. He also spoke about how he could arrange the right manpower and the other essentials to get the business up and started in a short time. He mentioned how at an average US$ 8 per manhour the company would make about 60% net and that the initial investment of about rupees 2 crores (twenty million) would be recovered and repatriated in under a year and a half – if that’s what the investors desired. He said he would bring in about US$ 100,000 of his own money, too. I became interested and called up some wealthy relatives who I thought might be keen on such a venture. They showed some interest and said they would let me know their decision within a couple of days.
I told my new American acquaintance that I needed to understand his business better and that I would ask questions, including some that might sound stupid but he would need to be patient and answer because the rich investors would expect answers to everything, especially on the accounting side of the business. He said that was no problem. Our discussions carried on for a while. I asked many questions and he answered them all to more than my satisfaction, convincing me that there was indeed a sound plan that our friend had put together.
Soon, came the question of ownership and who would own how much of the company. He said the investors would get 10% of the equity for every crore they invested. Two crores would mean 20%. ‘Hey, hey, hang on a minute…,’ my instincts said. I asked him if the investors who put in most of the money got only twenty percent of the shares, who would own the rest. He said the rest would go to other investors who brought in the next round of financing. Fair enough! But, what if there was no ‘next round of financing’ then what?
He said he was willing to answer stupid questions but he could not send me to business school. I reacted with, ‘con school’ you mean. He looked livid, but kept his calm. I persisted, ‘to recover and repay the two crores invested initially in a year and a half to an investor who had only twenty percent of the company implied that the venture would make more than 15 crores net in the period. Moreover, if you (your ideas and ability, that is) are worth so much why would your former employer let you go at all?’ I didn’t need to go to Harvard Business School to learn that! He looked lost. ‘Just drop it,’ he answered.
I dropped it, paid for my beer and strolled out into the rain … remembering to call the potential investors and asking them to ‘drop it’.
How A Good Business Plan Sample Can Help You Prepare Your Plan
When it comes to writing a new business plan, there is nothing quite as valuable as having a guide to go by, and having a quality business plan sample at hand will make the task of writing a new business plan a lot easier.
While the exact needs of every business will differ, there are a number of elements that must be part of any type of business plan, and having a business plan sample at hand can help any business owner include these essential elements.
Elements You Will Need To Include In Your Business Plan
Some of the most important elements of any business plan sample will be such things as a current a pro forma balance sheet, a current income statement and an up to date analysis of cash flow.
It is important to look for a business plan sample that includes all of these required elements, and just as important to tailor those elements to the needs of your own business.
Seeking Out A Business Plan That Is Similar To The Type Of Business You Plan To Start
When seeking out a business plan sample it is important to plan carefully and to look at several different business plan samples before deciding on a single one to use.
There are many different kinds of business plan examples available, both in books and magazines tailored to the business world and of course on the internet. It is a good idea to look around carefully until you find the business plan sample that best meets your needs.
Using a business plan sample from the same or a similar industry is a good idea, as is seeking out a business plan sample that matches your own style and needs.
Using The Business Plan Sample As A Guide Line
After you have your business plan sample in hand, it is important to use that business plan sample as a guideline and a starting point.
While having a business plan sample available will make the job of writing a quality business plan a lot easier, it will not replace the hard work necessary in the formation of a business plan.
It is best to think of the business plan sample as a template and a guideline, and to use it to create a business plan that is uniquely suited to your own special area of expertise.
Guide on How to Write a Viable Business Plan
Writing a Business Plan Business plans are considered the resumes of businesses. They give a clear description of what your company offers, how much profit is expected, how the business operates, as well as how soon these goals will be met. If you want to start a business, you need to write a business plan, as no financial institution will ever make the mistake of approving a business loan without going through the blueprint of success. There are free business plan templates on the Internet today. You can also buy book references at local bookstores. A sample business plan is generally enough to give you all the important details you need as a prospective business owner. To help you get started, below is a quick outline of how a business plan should be written.
Sample Business Plans
A template refers to the standardized document that contains the basic layout of a business plan, where additional details may be added to customize for specific use. A business plan template is basically an outline that will serve as your guide on making your own, adding information regarding your company and making a distinctive presentation. All business plans must include these sub-headings:
• Executive summary – The opening section of the business plan must include introductory information about your business, such as names of the owners, date started, employee accounting, as well as a comprehensive description of the premises. It must also include a summary of the rest of the document, as the executive summary is oftentimes the only section people read in great detail. You need to briefly describe the service or product your business offers, the description of your advertising approach, startup money, other financial requirements, expected sales numbers, and selling successes to date, if any.
• Company overview – Each segment of the summary should contain as much information as possible. You must include detailed biographies of each principal owner, especially if they relate to the industry where your business will operate. Explain the industry and its current financial condition and future expectations. Thoroughly describe new developments and products that will either negatively or positively affect the position of your business in the industry. Make sure that you also include any innovation that you introduce in your business. List your client base, include the names of your target customers, and describe how you’ll get their attention.
• Market analysis – In this section, expound on the items stated in the company overview. Come up with an accurate estimate of the current size of the market you wish to enter (when and how it is expected to develop and grow), the trends that affect your operation, the direct and indirect competitors of your business, the prices of your services or goods, and the strategies you have come up with to enter your target market. This is also the section that will include the list of your vendors or suppliers. You can also incorporate a testimonial or a feedback for each supplier if possible.
• Sales strategy – Provide all necessary information pertaining to both sales and marketing, including descriptions for your ad materials, type of marketing methods you wish to use, and how you intend to deliver and sell your service or product to customers. Also include a projection of sales for the first eight to twelve business quarters.
• Operations plan – Describe your business location in detail and give an example of what each staff member is expected to perform on a daily basis. List the equipment you have and don’t have. Also include sources and prices. Outline your inventory tracking methods, and detail the processes you intend to follow to track purchases, sales, as well as customer satisfaction.
• Management plan – Create a list of personnel you need and identify the costs associated with maintaining a certain level of service. Describe your hiring methods and the skills each employee must have in order to fulfill their jobs properly. Mention all the benefits you offer, give a summary of their costs, and include a copy of employee policies and procedures.
• Financial information – This is one of the most important sections of a business plan. Include profit-and-loss statements, the evaluation of the money you need to earn break even, and the figures that move into profitability. Come up with a list of sources and uses of funds. Also include a cash flow projection. Provide an explanation where the money will go – equipment, real estate, personnel, inventory, or capital – as well as your exit strategy. This information will be used by anyone who wants to invest in your business.
Salon Business Plan Samples – How to Check Quality
To write a business plan for a new salon, entrepreneurs often look for sample plans on which to base theirs. Great care must be taken to make sure that the sample plan is high quality and worthy of being used as a sample in the first place. Many websites proclaim that they offer sample business plans and here are some ways to know if the plan you are looking at is worth the paper it is written on.
Proofread and Edited
Before even getting into the content of the sample plan, look to see that it is proofread, devoid of typos and spelling errors, and edited for grammar, repetition, and clarity. Anyone who is serious about writing business plans know that there is no greater immediate turn-off to a potential funder than poor proofreading and editing. You wouldn’t leave typos or bad grammar in your r
Jewelry Business Plans
A good jewelry business plan is essential to the success of anyone think about setting up a jewelry booth, jewelry shop or just selling via the internet. Decent jewelry business software should not be overlooked either.
I am an enthusiastic jewelry maker but marketing and business practices are not my forte. I love the design and artistic side of creating quality jewelry and love to chat with friends and associates about various methods and techniques. That’s what I personally enjoy, but I realized that it wasn’t enough if I actually wanted to sell my products and turn a profit.
That’s where my sister-in-law came in. She showed me how to evaluate jewelry business plans and software. As a fellow jewelry business friend, I was interested in what she had to say. Her business was turning over four times what mine was doing. We’d both started at around the same time, give or take a month or two, our jewelry was fairly similar and I had no less enthusiasm than she did. She showed me the jewelry business plan she was working from, but also demonstrated to me key points to look out for if I wanted to purchase a plan.
There is plenty of information to be had on the actual art of creating great jewelry, but jewelry business tips in a commercial sense are hard to come by. So my ears pricked up. This is what she told me to look for:
It sounds obvious, but make sure the jewelry business plan has an extensive general introduction on how to set up a jewelry business and what the market is looking for in terms of booth, shop and internet selling. You simply must know which market you should be trying to sell your own designs and creations into. As I’ve already alluded to, it’s fantastic to be creative and have wonderful ideas and skills, but if you want to make jewelry making more than just a hobby, you can’t ignore what people actually want to buy and what price they are prepared to pay for different merchandise.
Ensure the guide covers both selling online and also via stores, whether they be temporary (jewelry shows and fairs) or permanent.
The plan should fully understand and explain the relationships between costs, turnover and profit. If, like me, you are not a financial wizard, this should be clearly explained and relate directly to a jewelry business.
Look for personal examples. There is nothing to help you learn better than real life examples of going from making a loss to making a profit. A good plan should include mistakes made and lessons learned by the author. There is no substitute for personal experience, rather than theoretical pontificating.
Make sure the plan gives good advice on how to present your stall, booth or website. Presentation is crucial in the jewelry business.
Your plan should also cover all tax implications and how to keep records acceptable to the IRS. Also covered should be cash flow forecasting and how to negotiate with suppliers, show organizers and web-site designers. Useful tips on how to promote a web-site would also be advisable.
You should also learn about business licenses and insurance. They may not sound that interesting, but are, nonetheless, vital to sustaining a healthy business.
In effect, find a jewelry business plan that takes all the hassle out of the business side of things and leaves you free to do what you are most interested in: making great hand-crafted jewelry.