Fully Baked - Business Plan Presentation

Developing a Business Plan: Clever Solutions to Daily Challenges
ERNIE SPEARS SMALL BIZ DEVELOPMENT MANAGER espears@stnicksalliance.org
www. ewvidco.com
www.brooklynbusinesscenter.com
SECTIONS OF A BUSINESS PLAN
1. Executive Summary 2. Copy (or Body) 3. Numbers
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BUSINESS PLAN SUMMARY

A. Business objective i. Defined as a problem and solution
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BUSINESS PLAN SUMMARY B. Business model

i. Explain how you make $:
Who pays you Your channels of distribution Your gross margins. (gross income/net sales, expressed as a %)
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BUSINESS PLAN SUMMARY C. Unique selling proposition i. Describe the technology, secret sauce, or magic behind your product or service
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BUSINESS PLAN SUMMARY D. Sales & Marketing i. Explain how youre going to reach your customer and your marketing leverage points
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BUSINESS PLAN SUMMARY E. Competition i. Provide a complete view of the competitive landscape. Too much is better than too little
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BUSINESS PLAN SUMMARY F. Management Team i. Describe the key players of your management team
board of directors board of advisors major investors
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BUSINESS PLAN SUMMARY G.Financial Projections & Key Metrics

i. Provide a 3 to 5 year forecast containing: Dollars Other key metrics,
a) number of customers b) conversion rate
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BUSINESS PLAN SUMMARY H. Current Status & Use of Funds

i. Explain the current status of your product or service ii. what does the near future looks like iii. how will you use the money youre trying to raise
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MARKET PLANNING J. Marketing Strategy Value Discipline i. Innovation
ii. Cost/Price iii. Customer Service

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MARKET PLANNING
A. Products or Services i. What customer need or want is being filled? ii. What are the features & benefits of your products or services? iii. How will your product be made or how will your services be provided? iv. Who will supply the materials? v. What future products/services will you offer, and when?
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Truck, Features & Benefits
FEATURES
Truck box Small engine Big engine 4-wheel drive Snow plow Big tires Custom package Hauling Gas mileage More power
BENEFITS
Can take off-road, wont get stuck Earn or save money Traction and safety Luxury
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MARKET PLANNING
B. Distribution i. How will your products or services be distributed?

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Mittens - Example
A
Retailer
Wholesaler
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MARKET PLANNING
C. Industry i. What is happening in our industry (isit growing, stable, or declining?) ii. What do you believe the future holds for this industry?
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MARKET PLANNING
D. Customers i. Who are your customers? what does your customer profile look like? ii. How many customers will your business have? iii. What information do you have that supports your decisions about your customers? iv. v. What is the growth potential?
1. What is your plan for growth?
What information do you have that
supports your decisions about growth?
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MARKET PLANNING E. Competition i. Who are your main competitors? ii. What are their strengths and weaknesses?
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Competitive Analysis Flower Shops

Competitor A Grocery Store Competitor B Grannys Floral Competitor C Flowers Are Us YOUR Floral Business
Items Rated:
Total Scores
24 14 1.71
Location, convenience Poor selection and quality, no delivery or wire service
37 14 2.64
Cute store, lots of charm Poor location, poor quality
75 14 5.36
Product selection, quality, experience Poor customer service and low customer satisfaction
111 14 7.93
Number of categories rated Average Score = Total / # categories rated Greatest strength
Greatest Weakness
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MARKET PLANNING
F. Position i. What will your market position be? ii. What is your competitive advantage why will customers buy from you instead of the competition?
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MARKET PLANNING (CONTD)

G. Image and Packaging i. What will the image of your business be? ii. What will your packaging look like? iii. What do your business cards and promotional material look like? iv. Where will your business be located, and why did you choose this location? Include a sketch of your floor plan.
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H. Pricing i. How did you determine your pricing strategy? ii. How do your prices compare to the competition?
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Pricing Components
Pricing Components
Product/Service Costs
Overhead Costs
Value
+
Variable Costs: Labor-Direct Raw Materials Parts for Resale Commissions Packaging Shipping
+
Fixed Costs: Rent Utilities Supplies Payroll Insurance Advertising Auto Interest Expense Repairs Owner Draw Owner Perceived: Business Profit Customer Perceived: Image Service Warranties Expertise Convenience
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MARKET PLANNING (CONTD) I. Marketing Goals

a. b. What is your dream where do you see you business in the next 2 to 5 years? What are your objectives for each of your goals? Why do you think they are realistic, how will they be measured, and when will they be achieved?
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OPERATIONS PLANNING a. Who will handle which functions in the business? b. What will their duties and qualifications be? c. If employees, how many will you have and what will their duties be? (Onet.com)
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OPERATIONS PLANNING d. Who will hire, train and supervise them? e. What will it cost your business for the first two years? f. What will your owner draw be for the first two years?
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OPERATIONS PLANNING g. What will your employee salaries be for the first two years? h. Who will your lawyer, accountant, insurance agent, and other advisory team members be? i. How will you manage your record keeping, finances, and inventory?
OPERATIONS PLANNING j. What licenses, permits, or regulations will affect your business? (www.nys-opal.com)
k. Will you have to collect and pay sales tax, and if so, how much and for which entity (state or city)? l. What types of insurance will you need
OPERATIONS PLANNING
M. What types of payments will you accept (cash, check, credit cards, house accounts, etc.)?
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OPERATIONS PLANNING
n. i.
i. ii. iii. iv.
What contingency plans have you made for you? What will you do if:
You become sick or are injured, In the event of a family or personal emergency that takes you away from the business? If your car breaks down? Your day-care provider cant take care of your kid/s today, or if your kid/s are too sick to go to school?
Who will take care of the business? How much will it cost?
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OPERATIONS PLANNING
o. What contingency plans have you made for the business? i. What will you do if sales are not what you expected? What will you do to increase them? ii. What will you do if costs are higher that you expected? What will you do to decrease them? iii. How will you make decisions to continue to stabilize or increase your cash flow and profits? iv. What will you do if a competitor lowers its prices?
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CASH FLOW PLANNING

1) Include a month-by-month cash flow projection for at least the first 2 full years.
1) 2) 3) Include written assumptions (explanations) supporting your projections. If your business starts or the plan starts during a year, the first year projection will be a partial year. There should be two full years of projections after the partial year.
2)
Include at least two years of financial statements for existing businesses. (If not in business two years, include what is available).
1) Include, if possible, balance sheets and profit and loss statements. Personal Financial Statement (Assets, Liabilities, and Net Worth) monthly income and expense statement (your personal financial plan)
3)
Include your personal financial data:

1) 2)
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CASH FLOW PLANNING

START-UP
TOTAL SALES From Coffee From Food From Misc. TOTAL CASH IN FROM SALES CASH OUT FOR GOODS Food Coffee Supplies TOTAL CASH OUT FOR GOODS CASH OUT FOR OPERATIONS Wages Tax on wages Rent Electric Telephone Insurance Licenses/Permits Heat/Utilities Accounting/Legal Office Supplies Repairs/Maintenance TOTAL CASH OUT FOR OPERATIONS
April
May
June
July
August
Sept
Oct
Continued. . .
CASH FLOW PLANNING
Continued from previous slide

NET CASH FROM OPERATIONS OTHER CASH IN Sales tax collected Owner contributions Loan from ____________________ TOTAL OTHER CASH IN OTHER CASH OUT Sales tax paid TOTAL OTHER CASH OUT NET CHANGE IN CASH BEGINNING CASH ENDING CASH BALANCE
START-UP
April
May
June
July
August
Sept
Oct
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ATTACHMENTS
Attachments should be provided to substantiate your claims in your plan. Always keep copies of the original documents for your files. a. Two years of personal income tax returns if requesting a loan.
ATTACHMENTS (CONTD)
b. Two years of business income tax returns. c. Credit application (form from the lender) if requesting a loan. d. Collateral documents (titles, abstracts, or other proofs of ownership) if requesting a loan.
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ATTACHMENTS (CONTD)
e. Lists of assets to be acquired and their costs. f. Resumes of yourself and others who will work in the business. g. Market studies.
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ATTACHMENTS (CONTD)
k. Letters of intent from customers to do business with you. l. Examples of your brochures, business cards, stationary and other materials.
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Developing a Business Plan: Clever Solutions to Daily Challenges

ERNIE SPEARS SMALL BIZ DEVELOPMENT MANAGER espears@stnicksalliance.org
www. ewvidco.com

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Fully Baked - Business Plan Presentation

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Developing a Business Plan: Clever Solutions to Daily Challenges

ERNIE SPEARS SMALL BIZ DEVELOPMENT MANAGER espears@stnicksalliance.org

SECTIONS OF A BUSINESS PLAN

1. Executive Summary 2. Copy (or Body) 3. Numbers

BUSINESS PLAN SUMMARY

BUSINESS PLAN SUMMARY B. Business model

BUSINESS PLAN SUMMARY G.Financial Projections & Key Metrics

BUSINESS PLAN SUMMARY H. Current Status & Use of Funds

MARKET PLANNING J. Marketing Strategy Value Discipline i. Innovation

ii. Cost/Price iii. Customer Service

Truck, Features & Benefits

B. Distribution i. How will your products or services be distributed?

What information do you have that

supports your decisions about growth?

Competitive Analysis Flower Shops

MARKET PLANNING (CONTD)

MARKET PLANNING (CONTD)

MARKET PLANNING (CONTD)

MARKET PLANNING (CONTD) I. Marketing Goals

CASH FLOW PLANNING

Include your personal financial data:

CASH FLOW PLANNING

CASH FLOW PLANNING

Continued from previous slide

Developing a Business Plan: Clever Solutions to Daily Challenges

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