Business plans for handbags revolve around the precise sort of purses you will make available and the market opportunity you envision by selling these handbags. What brands, designers, and styles will you be able to offer? Will there be rental options a la BagBorrowOrSteal.com, or just purchase opportunities? What ecommerce functionality does your website have already? If you are seeking investment capital or financing from a bank these are all important considerations. Also points to mention:
• What primary and secondary competitors will you face online?
• How much capital do you need to launch or expand?
• What are your likely personnel needs, and when will you bring new people onboard?
• Can you identify the exact COGS on all handbags you offer?
• When can your business achieve its break-even point?
The handbags business plan should also provide a complete financial pro forma that lays bare the projected profitability after a period of 3-5 years. This requires a profit and loss statement, a balance sheet, revenue and cash flow statements, and other key financial metrics explained in a 5-year pro forma and detailed in a monthly format for Year 1. You should also describe the management team bios and list any advisors or consultants you will have, as well as any management team gaps that exist currently. The plan could also include an exit strategy depending on your vision for the business. If you need help, MasterPlans can prepare you a funding-ready business plan in 2 weeks or less. Call 877-453-2011 today.
If you are ready to go, or not sure what kind of plan you need, fill out the form below and we'll call you.