Need a building application store business plan? If you're obtaining a building application to get a store off the ground, the purpose of the business plan should be describing the products, sales potential, and market for the store itself – don't focus too much on the land, the lease terms, etc. The business plan should have something to say about the need for the products you will sell and/or the services you will offer on-site. Who are the target customers, how many are there in the area, and what price points can they support based on the demographic reports that the Census Bureau makes available? What are the nearest competing stores in your market? The competitive analysis is important for several reasons, so don't take it lightly. Research and discuss:
• The location of these competitors
• Their most popular products and services
• The average prices they maintain
• Their annual sales and staffing levels (estimate if necessary)
• The strengths they exhibit
• Any negative things consumers are saying (online or word of mouth)
The business plan for a building or store needs to have a comprehensive financial model that estimates your revenues and expenses for a period of three to five years. A bank-ready plan – i.e., a document designed for funding via an SBA loan or line of credit – will only require three years of financial projections; an investment plan that you would present to an angel investor should have a five year model to accompany it. The business plan financials should include a use of funds section, a revenue forecast, a break-even analysis, profit and loss section, cash flow, and a balance sheet for each year. MasterPlans has a full team of modelers, researchers, writers, analysts, and editors on staff that can help make your business plan. Call us to learn about our services, toll-free at 877-453-2011.
