The business plan for a backpack company is similar to any other document that describes the market opportunity for a new accessory, clothing line, or other semi-durable consumer good. There are some real titans in the backpack space – everything from North Face to Dakine to JanSport – and in order to be successful alongside these major players, you must have a defined market target and a strong strategy for manufacturing and selling the bags. Marketing expertise and management team strength become critical components for a venture like yours, so don't downplay either in the business plan. What should you cover in the document? These topics are among the most important:
• What styles and models do you anticipate putting out in the near future?
• What is your strong suit for use-value – hiking, mountaineering, work use, school, etc.?
• Who do you target as the end buyer?
• Where do you hope to have your backpacks carried for sale?
• What marketing elements will you use, and which are already in play?
You will also need to outline all of the marketing methods the company will use in support of its new lines. Will you use the Internet, print ads, viral marketing techniques, billboards, coupons, etc.? Itemize these are show what emphasis you will put behind each. You will also want to show your anticipated start-up costs (use of funds) to illustrate the allocation of capital you'll put in place. Investors will want a five year financial model showing them revenue forecasting, a break-even point, profit and loss and balance sheet assessments, and a statement about their potential share and return (ROI/IRR). Need help with the model, or want to get your hands on some better research? Call MasterPlans today – we have worked in this very market space before, and our team of expert writers can deliver a great plan for you in as little as two weeks.
