Broadcasting business plans require several different data sets and analyses to perform successfully. If you're aiming expand in your local market's broadcast journalism and your company already has revenues in the sector, the plan should show the company history and past performance. If the business is a pure start-up, focus instead on the likely use of funds and the different allocations of capital you will make to ensure that your business gets off the ground properly. The broadcasting market space is constantly evolving, and in order to get a solid footing, your plan will need to show what your role is and how you plan to succeed even as the industry landscape continues to shift in the future:
• What sort of broadcasting will you be doing – is the primary medium television, radio, etc.?
• What has this industry done in the past 2-3 years? Account for any contraction.
• What are the projections for industry revenues?
• Who are your primary direct competitors?
• What are the risks your company will face by expanding in this space?
The competition assessment will ideally include an overview statement about each along with a list of their revenues, staff levels, and estimated market share. Any obvious weaknesses that you can exploit in your own business model should also be highlighted. The plan will need a marketing strategy (how will you ensure yourself an audience?) and a list of the competitive advantages you believe you can wield. The pro forma model (at least 3 years for a bank, 5 for an investor) and management summary should round out the meat of the plan. Need help? MasterPlans has written broadcasting business plans for established and start-up companies alike, dating back to 2002. Call us today at 877-453-2011 to learn more.
