Intelligent Toy Store (Business Plan)
Business Plan (Term Project): Each student will select a business and complete the marketing portion of the business plan software through and including the sales projections for a start-up business. Since your business plan is an APA style research paper, do not state personal opinions. You must cite your references in the body of the paper and you must have a reference page. You should not use pronouns (e.g., I or we). Instead, use your company’s name when you are telling the reader what your company plans to do. Students should present their business plan as if the class was a group of venture capitalists.
Note: Every section has is own questions. But, not every question has to do with my business, so only use questions that are relevant to my business the “intelligent toy store”.
Note: Also, please make sure that the wording it is easy and also please “do not teach the reader about business” The reader it’s a possible investor.
Here is the guideline to write the business plan:
1) Cover Letter (This is already done and it is attached)
2) Executive Summary
3) Overview of the Business
• Tech. & Equipment
• Facilities & Layout
• Management Profile
• Personnel Profile
5) Marketing Plan
6) Sales Plan
• The Sales Team
• Sales Management
• Sales Policies
• Sales Projections
2) Executive Summary
1. Provide an overview of the business plan: The Industry, Strategy, Operations, Marketing and Personnel
2. How much money is being requested?
3. What are you going to do with the money?
4. How long do you need it for?
5. How the funds will be repaid?
6. How can you assure me that I will get my money back?
3) OVERVIEW OF THE BUSINESS
1. What are the most pressing environmental factors in your industry? Consider all environmental factors: Economic, Legal, Technology, Demographics, Social/Cultural, Substitute Products, Political/Legal, Suppliers
2. What are the key customer trends?
3. What are the competitive forces that drive your industry?
4. What recent changes have happened lately in your industry?
5. Who are the key competitors in your industry?
6. What actions have major competitors taken lately?
7. How competitive is your industry?
8. How has your company adapted to environmental factors?
9. How has your company adapted to competitors?
10. What are the opportunities and threats within your industry?
11. Identify a trade organization that supports your business type:
12. What industry is your business in? Describe:
13. Identify an industry related magazine or other sources of industry news.
1. What does your business do to make money?
2. What products do you produce/provide?
3. What products categories do you produce/provide?
4. What are the key factors for success in your business?
5. What are typical margins in your industry?
6. What resources do you need to be successful?
7. What are the opportunities and threats in this industry?
8. Describe your business.
9. Describe your product and services:
10. Estimate the average sale in dollars per customer
11. What is the relative size of your business?
12. What is your estimated total sales revenue:
13. What is your geographical footprint?
14. Where/how to you distribute (sell) you product?
15. What types of margins does your company produce?
16. Discuss some of the basic history and background of your business.
17. Where is your business located?
18. How many employees do you have?
1. How big is the overall market?
2. What customer trends are occurring in your industry?
3. What product features and benefits are customers looking for? (From an industry perspective, not your specific products.)
4. What customer trends do you see in your industry?
5. Why do customers not buy your products, or your competitor’s products?
6. Describe the basic characteristics of your customers:
7. Why do they buy the types of products you (and your competitors) sell? What are the product benefits that the customer desires?
8. Purchase frequency: How often does an “average” customer purchase your products?
1. How many competitors are there in your industry?
2. What are the key competitive issues for business in your industry?
3. What trends do you see with competitors in your industry?
4. Who are the major competitors? (Percent market share?)
5. What advantages do the major competitors have?
6. On what product attributes does your product compete, e.g., convenience, quality, style, price, other? Describe:
7. How do your competitors compare to you on relative size, e.g. are they smaller, larger, franchises, regional, international?
Tech. & Equipment
1. What technology and equipment do you use in your business?
2. How much product are you able to produce?
3. What is your maximum capacity capability?
4. At what percent of maximum capacity is your business operating (utilization)?
5. Are you borrowing money for technology or equipment?
6. How much money is being requested for equipment?
7. How much does the equipment cost?
8. What are you going to do with the money? Be specific. Provide a list and specifications.
9. What return will the investment provide?
10. What are the key pieces of technology and equipment in your business?
11. Do you have any proprietary technology, equipment, process or operations?
12. Where do you get raw materials and supplies?
13. What constrains the maximum quantity of output for your business?
14. Who operates your technology and equipment?
15. What employee training do you provide for the operations of your technology and equipment?
16. How does your technology and equipment compare to that of your competitors?
17. How does your level of investment in technology and equipment compare to that of your competitors?
18. What are the costs of supplies, including shipping, handling, and storage?
19. What is the quality of my suppliers and supplies?
20. What systems will you use to manage inventory levels?
21. What will your fixed and variable operational costs be?
Facilities & Layout
1. How do you distribute your product?
2. Where will you physically locate you operations?
3. What kind of access (proximity) will you have to customers?
4. What kind of space requirements does your business have?
5. What kind of shipping access will you have?
6. What kind of location renovations (expenses) will be required?
7. Will utilities be available at your locations?
8. What monthly expenses will your locations incur (rent, utilities, HVAC, electricity, water, etc.)?
1. Identify key management positions and requirements to fill those positions.
2. Identify key management and provide resumes.
3. Identify key management slots to be filled.
4. Identify key advisors.
5. Provide an overview of your management organizational chart.
1. Provide an overview of your personnel (staff and line) organizational chart.
2. What training will be provided to personnel?
3. Identify key personnel positions and requirements to fill those positions.
4. Identify key personnel and provide resumes.
5. What skills will be required for personnel?
6. Identify key personnel slots to be filled.
5) MARKETING PLAN
1. Who are your top 3 (top x) competitors?
2. Who is your top number 1 competitor?
3. How does your top competitor threaten you?
4. What advantages do these competitors have over you?
5. What advantages do you have over these competitors?
6. On what basis do you compete with these competitors?
7. What are you doing or what can you do to beat these competitors?
8. Why do non-customers buy from these competitors
9. What are sales, revenue, margin trends of you and your competitors?
10. What are the benefits of your competitor’s products?
11. What are the key competitive issues for you against your most pressing competitors?
1. Why do your customers buy your product?
2. What benefits do your products provide to customers?
3. What are customer buying patterns?
4. Who is the primary customer target for your product/services?
5. On what basis have you segmented your target customer?
6. How are their needs different from other potential buyers of similar products and services?
7. What do your customers have in common?
8. Why do your customers buy from you and not your competitors?
9. Why do others buy from your competitors and not you?
10. How do you market to, and acquire customers?
11. How will you market to and attract new customers to buy from your company?
12. What do customers find special about your company?
13. Why do you sell to the customer segments you have chosen?
14. How do customers learn about your product?
15. How do customers acquire your products?
1. What are the products and services that you sell?
2. Describe the features and benefits of your products and services.
3. Do you have any new product development opportunities on tap?
4. How are your products positioned, e.g., value, style, brand?
5. Describe any enhanced features of your Product/Service and how they meet the needs of your target segment.
6. Describe the integration of services to your product offering.
7. When will new product development opportunities be ready for market?
8. Do you own any proprietary intellectual property rights?
9. How are your products and services differentiated from your competitors?
10. How many units do you expect to sell per season; per year?
11. Who supplies inventory, raw materials, and other product resources?
1. What is you your pricing strategy?
2. What are the goals of your pricing strategy? E.g., volume or margins?
3. How does your pricing strategy align with your other marketing decisions? e.g., promotion, place, product choices.
4. Do your prices create reasonable and acceptable margins? What are they?
5. How does your product/service pricing compare to your competitor’s?
6. Is your price consistent with the perception your customer has of your product (relative to your competitors)? How so?
7. Are you at the right price point(s)? How so?
1. What Marketing Communications efforts are you planning?
2. What sales do you expect to achieve from your marketing efforts?
3. When will cash flow result from marketing efforts?
4. How will your marketing efforts support your sales efforts?
5. What do our customers read, watch listen to, etc.
6. How will you promote, your products and services?
7. What is your Promotional Strategy (strategies)?
8. What promotional tools do you use? (Indirect: Advertising, Publicity, Sales Promotion; Direct marketing)
9. What are your key promotional tactics:
10. What are the most cost effective tools to achieve our promotional objectives?
11. What are our promotional objectives?
12. What control will we have over our marketing communications campaign?
13. What message do we want to convey to our customers, prospects?
14. What are the costs of our promotional activities?
15. Why did we choose the tools we are planning to use?
16. What specific Promotional Tools are you planning to use?
17. What is the appropriate schedule for your promotional activities?
18. What are the objectives for these tools?
19. How will these promotional programs benefit your company? Are they aligned properly? Are they cost effective? Are they efficient? Are these the best choices? Why?
1. How will you get your product/service to your customers? Where do they want it? When they want it? How do they want it?
2. What channels will you sell through?
3. What market coverage strategy (Intensive, Selective, Exclusive distribution) is most appropriate (why)?
4. What coverage strategy best suits your market and product choices?
5. What channels will best distribute your product? What best suits your customers? Your product?
6. Who will perform what channel functions? The channels? You?
7. What key channel Functions will you assume? Your channels? (e.g., Transactional, Logistical, Facilitating) How will this affect your business?
8. What combination of coverage, channels, and function responsibilities will be most profitable?
9. What are the key attributes of your location & facilities? (Access, Parking, Layout, Square footage, Lighting, Furniture?)
10. How will your location impact sales?
11. How will your facility impact sales?
12. What are the costs associated with your location and facilities?
13. What are the customer benefits from your location and facilities?
6) SALES PLAN
The Sales Team
1. Do you have a direct sales force? (What is the structure of your sales team? How many/where are they? What do they sell?)
2. Do you have an in-direct sales force? (What is the structure of this team? How many/where are they? What do they sell? What is the contractual relationship with your in-direct sales force?)
3. Do you have an inside or outside direct sales force?
4. Do you have sales / channel partners?
5. What are the sales goals for your sales team?
6. How are sales goals monitored and measured?
1. What is the structure of your sales management team?
2. How many sales people does sales management manage? Where are they?
3. What are the sales goals for the management team?
4. How are sales goals monitored and measured?
1. What is the appropriate metric to measure sales quotas?
2. What are your sales quotas by product line, sales person, region or whatever metric is appropriate?
3. Do your sales people have any opportunity to adjust prices?
4. What latitude do your sales channels have to adjust prices?
5. Do your sales people and sales channels compete with each other for sales? Is this a problem?
6. What is your return policy?
7. How will returns affect sales goals and commissions?
8. What is your commission structure? When will sales people be paid?
9. How will channels be compensated?
10. What sales promotions will you use? When?
11. What will sales promotions cost you in dollars and lost revenue?
12. What do you hope to achieve in revenue in return from sales promotions?
13. What Up-selling, cross-selling, opportunities do you have?
14. Are there Up-selling, cross-selling sales quotas?
1. What are the revenues associated from your sales plan?
2. What revenues will be generated from new, invested funds?
3. When will cash flow be generated from new revenues?
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