How to Write a 5-Page Retails Business Plan for Yourself – How to write a business plan step by step, simple business plan example, how do I write a business plan for a small business such as for retail business plan template, retail clothing business plan, fashion boutique business plan examples, business plan for retail store manager, clothing company business plan, and online clothing store business plan.
In general, areas of importance are on marketing strategies, value chain analysis, marketing variables, distributive channels and strategies, and analytical procedures. These must be taken care of in any business plan template. If you are in need of this knowledge, I would like you to take time and go through this simple 5-page retail business plan model. It’s actually designed that you will prepare the plan by yourself as you read along.
How to Write a 5-Page Retails Business Plan for Yourself
Table of Contents
PART ONE:
Business Preliminaries:
The part one of this write up centres on the preliminaries of the business plan. The matters involved here are not actually part of your business plan, but they are surveys, research, or feasibility studies into the type of the business you want to venture into. You have to go through them one after the other. They are miles stones you must make before you start the business plan and the business itself.
Retails Business Ideas:
You must have good business ideas. This business plan is on retail business, therefore you must arm yourself with reasonable numbers of various retail businesses you can come across. I have some here for you.
Retail shop businesses include, soft drinks, beverages, wines, medicine store, fruit marts, bread retails, snacks shops, small boutique, book shop, groceries, food stuff, bedding stuff – bed sheets, duvet, pillows etc., shoes – sandals, belts etc., hair care products, tailoring materials, cosmetics store, babies wear, pregnant women cloths, wedding accessories – English and traditional, mobile phone, computer repairs, photographic materials, plastic products – chairs, water containers, kitchen plastic ware etc., kitchen utensils, children education materials, new born babies wares and more.
Listed above are over 40 retail business ideas you could do. You can also make combinations of them for variety sake.
How to Write a 5-Page Retails Business Plan for Yourself
The Capital Needed:
You have to check now to see how much fund you have saved for this business. If that is okay, well and you are done here. Otherwise, it’s time to list out also your potential sources of capital. Can you get from your wife, children, in-laws, brothers, sisters, friends, your church, cooperative society, or do you have to look for a partner who will bring in some money. Or would you need to borrow and from where – friends or bank or other money lenders. Can you get an investor?
Truly speaking, this is the preliminary part of this capital issue. Your business forecast and financial analysis will finally determine how much fund you need. I have done a business plan for a firm whose budget was twenty five million Naira, but the entire analysis showed that the business can only start with thirty five million Naira on the basis of their projections. Read my other business plan to see what happens.
Your Business Peculiarities – SWOT Feasibility Studies:
Every business has its own peculiarities. Therefore what constitute strength to business man ‘A’ may not be the strength for business man ‘B’ on the same line of business. Therefore, look for what could be the strength of the business considering your capital and location.
Do the same for Weaknesses. Check out the draw backs in the business. Why do people fail or success in that line of business. Watch out what opportunities that are available for that business to grow. Is it the supply or demand for the wares. What are those that threaten the survival of the business? In a summary way, you will highlight all of these in your brief 5-page business plan.
The Business Location:
Now watch your location. The type of wares you house may be determined by the type of people around your business area. Even in the open market, if your own shop is located outside the line of business, you may be missing out on customers who regularly visit one particular part of the market that deals with such wares.
Proximity to market, supply, transport, industrial zone, market area, density populated areas are some of the determinants of business location.
How to Write a 5-Page Retails Business Plan for Yourself
The Business Legal Status:
The next thing is that you have to consider the legal nature of your business. In Nigeria if you want to do business you have to incorporate a business/company, or you do business name registration. All of these you do with Corporate Affairs Commission. No business should go on without due registration.
Some business will also need to be registered with the local government authorities. Or regulating government agencies like National Agency for Food and Drug Administration and Control (NAFDAC) or Standard Organisation of Nigeria (SON). Ensure you comply with these regulations before you start your business.
PART TWO
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YOUR 5-PAGE BUSINESS PLAN: NOW START:
First page:
A page of writing paper can contain between 30 and 35 lines of sentences. Therefore, you have to manage this page to contain your Title – ABC Retail Enterprises, 3-Year Business Plan. So, the business name, address and other locational highlight must be on this first page.
Use the last part of this page to print the content and page locations.
Second Page:
Divide this page into three parts:
- First part is to be devoted to the Executive Summary. Ten sentences will do for this.
- The second part goes for the company/business overview
- Third part goes for Management team highlights, while the
- Fourth part will contain the summary of the SWOT Analysis….as discussed above.
Third Page:
This page will be divided into two parts.
- The first half will be devoted to your business value chain analysis – your product or services – what are they?
- They second half will be devoted to your marketing strategies – list out up to 10 activities you will employ to market your wares. Do that now. Take up you pencil and begin to write – prepare a flyer, a sign post on the lintel of the shop, ..list out the other ones.
How to Write a 5-Page Retails Business Plan for Yourself
Fourth Page:
This page is for your business forecast:
You have to forecast your sales/turnover, Purchase/cost of sales. Operating expenses (OPEX), Capital expenses (CAPEX), Brief Profit or loss account – may be inform of income statement, Balance sheet – Just list your assets- including cash at hand and at bank on one side and your liabilities plus your capital on another side – you will see that the two sides will be equal.
Fifth Page:
This should have the final analysis of the whole plan. Just divide the page into two, using one part for the feasibility conclusions – all you did in page four. That page should tell you whether the business should go on or not. Therefore, make the conclusion here.
Use the second part to make your recommendations. Even though you are making this to yourself, yes it’s good for you to note that at this date you made the decision to go on in this business. This is why we advise that every business should have something like this. If you can do this plan in two pages, that will be alright as long as you know what you are doing, and can always come back to it for reappraisal.
How to Write a 5-Page Retails Business Plan for Yourself
My Dear; What Next?
You are done, and good to go on this business, what next? Business plan doesn’t generate turnover, so I advise you do the following:
- Take this 5 pages along with you every where you go
- Make plans to actualise your forecasts
- Make frequent reviews – watch if you are making it
- Adjust and continue
- If you can’t do it for 3 or more year now, make it a rolling plan
- Contact me for some coaching
- Contact me for your first year business financial statements and Tax clearance certificate.
- If the first year is gone, take up the second year.
- Adjust figures for the second year. Carry on as in the first year – frequent review
- At the end of the second year adjust for the third year,
- The process continues,
- Contact ME now for a professional business plan so that your growth in the business will be sustained.
Thanks for going through this exercise. There are lots of business plan samples in this website. Write whatever word or phrase at the search tab and you will get what you want.
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Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.
