Did you search coffee mugs business plans because you want to get into business making coffee mugs? The major manufacturers for coffee mugs, tea cups, and the like and cookware and cutlery companies that already have established product lines for dinner service items and everyday kitchen products. But there is also a large market for corporate-branded promotional products like mugs, and some small businesses make their living fulfilling these orders or designing custom mugs that meet customer specifications, as with the “turn a photo into a mug†business model popularized in the 1980s. No matter what type of business you envision in this market space, consider that your plan will need:
• A complete description of your product concept
• A list of your projected costs
• The likely sales points and volumes for a given item
• The other expenses you'll face beyond COGS
• The market for your products
If you sell only to SMBs, for example, and you focus on the Cleveland Ohio area, how many companies fit your target market? If you do a lot of your selling online, or plan to market in a national catalogue, this opens up your scope, but how far? Show that you have a working idea of the best marketing methods for your business and list the strongest ROI advertising concepts for a service like this one. From there, build a pro forma that shows your mug sales and expenses for a minimum of three years. Pinpoint the break-even and show the assumptions you're using so that a banker can follow along. MasterPlans has worked with 10,000 clients seeking funding and we can develop your business plan in just a couple weeks. Call 877-453-2011.
