Trophy business plans -- namely, documents written to help trophy shops get start-up or expansion capital -- are not the most common type of business document, but you can produce one provided you're patient and careful with the market research. The business plan should list out all of the product types you'll offer -- not just trophies, but medals, medallions, plaques, whatever it is you'll deliver for consumers, give an example and make sure you describe the products in detail. If you offer engraving, tell what the price points are. Do you have gold-plating, pre-made trophies, or custom model capabilities? Pictures can help a reader grasp your business and its services. But you can't stop there -- the business plan needs a comprehensive market analysis that shows:
• The common target client
• Commercial vs. consumer buyers (what ratio?)
• The market need for trophies
• The state of the industry and market locally
• How many target buyers are there?
If you sell a lot of trophies to schools, showing how many students there are participating in regional sports would be a valuable piece of market data. Also, pinning your average price points to competitive comparables from research you've performed will help give your financial model solid footing. In order to present to a bank, you will need to show 3 years of projected sales and expenses with a steady loan repayment plan and a break-even within 12-18 months. Also include a marketing strategy section and a management summary with a personnel plan, provided you have or will hire employees. MasterPlans can write the entire business plan you need in as little as 10 days. Call a consultant now to hear more! 877-453-2011
