Looking for custom frame shop business plans? The framing industry has long been seen a strong margin business nice that resists pressures from most downward markets and experiences only limited effects from substitution and alternatives. A SWOT model for your own business might help clarify what your risks and opportunities are going forward, but in general, the business plan for a frame shop shows decent margins and a healthy market opportunity. Depending on where you are, you might want to review each of the competing frame shops in detail. Where are they, how long have they been around, and what do they charge for a typical custom framing job? Do they have negative reviews online or in print and what does that say about your own chances to differentiate your service? The plan should show:
• The weaknesses of the leading competitors
• The market entry strategy you propose
• The location you'll occupy and the rent/deposit
• The ongoing operating costs and the COGS on a standard job
• The personnel plan, unless you're the only owner/worker
The business plan for a custom frame shop also needs a complete financial pro forma, which means showing a minimum of three years of projected financial returns. You should base your sales projections off of past performance (where available)and/or the market penetration rates that seem reasonable for a start-up in this industry in your area (this is where good competitive research comes into play). The business plan model needs to show that you can repay the loans on time and offer a decent return to any equity shareholders. MasterPlans has worked on the business plans for custom frame shops many times in the past as part of its 10,000 client engagements to date. Call the MP team at (877) 453-2011 to learn more about what we can do to help!
