The business plan for dog tags can take two parallel paths: are you hoping to manufacture the identification labels worn by US military troops, or make pet labels that consumers buy for their cats and dogs? The business plan's contents, surprisingly, won't vary too much no matter which path you're taking. The market analysis will be considerably different, but the basic information that informs the COGS, marketing plan, and product and service description will be similar. There are some different political undertones in a plan for military dog tags, and your target market is quite different with animal products, but the banker who judges your creditworthiness for a loan won't need to delve too deeply into the difference. Your plan should address:
• The target buyers for your products
• The near-term and long-term market potential
• Your implementation strategy
• The price points (retail/wholesale) you believe are supportable, and why
• The amount of capital your business idea needs
The plan also has to cover the financial projections for a minimum of three years. (Typically only a private investor would need to see a five-year model, an ROI calculator, or advanced tables like ratios and sensitivity analyses.) The tables to include are a use of funds section, the revenue forecast, the break-even point, a profit and loss section, a cash flow, and the balance sheet, in addition to a monthly peek at the first year. Make sure you also add in a bio for yourself and a personnel plan if the business will have employees instead of just 1099 contractors. Not sure where to go with this plan, need help getting started, or just want to have someone else do it? MasterPlans can help you today. Call one of our experts at 877-453-2011.
