Retail Business Plan for Babies & Pregnant Women Wares Business – For this business plan to be properly done and to make the business to thrive, there must be a good understanding of how to open a baby store, how to start a baby boutique business, baby store business plan sample, how to start a baby boutique online, baby products business ideas, how to start a baby shop in Nigeria, business plan for baby products, and baby shop business plan.
Related to Retail Business Plan for Pregnant Women Wares Business is how to start a maternity clothes business, maternity clothing business plan, maternity clothing wholesale suppliers, best retail business ideas, maternity business ideas, and maternity clothing market analysis. These are insights into Babies and pregnant women Wares business and they also constitute business ideas.
Retail Business Plan for Babies & Pregnant Women Wares Business
Table of Contents
In fact, Retail Business Plan for Babies & Pregnant Women Wares Business in general relates to; How to Open a Maternity Boutique – Small Business, Starting a Baby Boutique Business, and How to Write A-5-Page Wholesale – Distributorship Business Plan for yourself. If you get used to these issues, then you would be able to come out with a winning Babies and Pregnant Women Ware Business Plan.
Further Babies & pregnant women Business Ideas:
In addition to the business ideas so far highlighted above, here are other business ideas you can get into individually or in a combination of two or more. After building these ideas it becomes easy to write your business plan.
Babies need Baby foods and formulas, clothing – diapers, nappies, blankets etc, Baby body care products – baby soap, shampoos, baby lotions, baby laundry detergents, baby powder etc.
Others are general baby accessories – sleeping related materials, and feeding equipment. Juvenile equipment in the form of car seats, strollers, swings, joggers etc. Breast feeding products, young infant toys and mobiles, books, gift items – picture frames and photo albums and other child birth ceremonies related items.
Expectant mothers wears – clothing, shoes, beauty materials, hair care, special food, food supplements, body exercise materials etc.
If you have gone through the above paragraphs you would have gotten an idea of what type of business you want to start in this line of business. The next things are issues relating to your start-up processes.
Retail Business Plan for Babies & Pregnant Women Wares Business
Start-up Processes majorly centre around the business legal standing, and this relates to registration of the business with the Corporate Affairs Commission (CAC) of Nigeria .
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.
If you need your business registered in 5 days just let me know, Our professionals will do that for you. We will ensure you get your registration with other government agencies too.
The business location:
This is another aspect of the business start-up processes – your business location. Your business location could be anywhere you like. But if your business is being attracted to a location for one reason or the other – Proximity to market, source of supply, transport, manpower, population, demand etc.- the business will do better. Ensure your business is well located.
Retail Business Plan for Babies & Pregnant Women Wares Business
THE BUSINESS PLAN PROPER:
Highlighted on this part of this post are the guidelines, procedures, and formats you could adopt in making your business plan. Where you have difficulties don’t hesitate to send in your comments through our comment box on this page and a good shortcut is for you to drop your e-mail address on our follow by e-mail platform by the right hand corner of this page.
The Executive Summary:
This is the first important aspect of the business plan. It contains the summarises of the entire contents of the business plan, including the purpose of the business plan, and summary of the operational, marketing and the financial forecasts.
One or two pages will be enough for this. It must be concisely written highlighting the relevant figures.
Business Overview:
This will give every information about the nature of your business, and such items would emphasis on the following;
- The name and address of your business
- The business Mission
- The business Vision
- The legal structure of the business.
The narratives here have to be brief too.
Retail Business Plan for Babies & Pregnant Women Wares Business
Product and Services:
The truth is that this is why you are in business. You are in business to render these services to mankind and from there make your own livelihood. So it’s and important aspect of this plan. If you can’t project your products or services properly, then you are yet to catch the vision of the business.
At this section list out your products and services and explain them in details:
- Production/Procurement and sale – types, makes, technology, users of babies and pregnant women wares – baby clothing, baby body care products, juvenile equipment, feeding and bathing product, breast feeding products, Young infant toys, expectant mothers wears, etc.
Management Team:
Give full details of your management team, their profile and the roles assigned to them in this engagement. Their academic qualifications and work experiences are to be highlighted. Mention peculiar attributes of each especially special training, social competencies and personal skills.
Attach by every title the relevant required qualifications and working experiences. You could also give schedule of their key responsibilities
Retail Business Plan for Babies & Pregnant Women Wares Business
You can design an organisational structure like the one above to depict the type of management you intend to have in place.
SWOT ANALYSIS:
SWOT is the acronym for Strength, Weakness, Opportunities, and Threat. Every business operates under these conditions. It’s what you make out of it that promotes the business.
SWOT analysis may detect how you will structure your business. Special Franchise won, population (demand), business location, enough capital or employment of best hands, could be the strength of the business.
The strength of the business will help it maximise the opportunities available especially within and around the business environment, whose combination will help the firm withstand the threats in form of competitions and environmental factors. An inclusive/comprehensive approach will enable the firm achieve its goals.
The Market:
The next thing is the market.
From economics principle, we understand that each product item is a market of itself. Therefore, Retail Business for Babies & Pregnant Women Wares constitute a market. You must be able to forecast how you will penetrate this market and get a reasonable market share.
A research into this market will tell you what wares that are in existence and how much their demand is. It will also show you their various brands, types and makes.
With these knowledge you will be able to know who your competitors are. Competitors are not your enemies, they are businessmen and women like you. But one particular feature in all of you is that you are dragging for market share. So you must take measures that will enable you drive large market share. Your target market and your marketing strategies will help you achieve good market share.
Retail Business Plan for Babies & Pregnant Women Wares Business
Target Market:
As noted in the market sub-topic, your knowledge of the market will now help you create your target market.
Enumerate your target market and its segmentation. The segmentation could follow the classes of products and could be those that address such customer classes as follows;
- Babies
- Single mothers
- Marriage engagement outfits
- Pregnant Women
- Infant Materials
- And others
Marketing Strategies:
As a matter fact, you must give details of your marketing approaches and special (strategic) approaches that you hope to employ to win reasonable market share here. This is the market drive strategies. You could adopt the following sales and marketing approach to win customers over;
- Opening Ceremony: Opening or lunching the business in a grand style with a party for all.
- Sending of introductory letters alongside your business brochure to organizations, households and key stake holders in the business environment
- Variety of Stock: Ensure that you have a wide range of wares
- Make use of attractive hand bills to create awareness and also to give direction to shop.
- Position your signage / flexi banners at strategic places around
- Position greeters to welcome and direct potential customers
- Create a loyalty plan that will enable you reward your regular customers
- Engage on occasional fun show for babies who must come with their mothers at special period of the year.
- Engage on occasional fun show for pregnant women who must come with their spouses at special period of the year.
- Prepare special packages for first time pregnant women.
- Place adverts on community based newspapers, radio stations and TV stations.
- Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook ,Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote your business.
- Brand all your official cars and vans and ensure that all your staff members and management staff wear your branded shirt or cap at regular intervals.
Read Also: Retail Business Plan
Retail Business Plan for Babies & Pregnant Women Wares Business
Payment Options:
Determine and select peculiar payment options that will favour your business. Such options as:
- Payment with cash
- Payment via POS
- Payment via online bank transfer
- Payment via cheque
- Payment via bank draft
Financials Estimates and Feasibility Analysis:
Retail Business Plan for Babies & Pregnant Women Wares Business: Financial Forecasts:
A retail Business Plan like this needs to include purchases and sales forecast, cash flow forecast, a projected profit or loss account and balance sheet for at least three years.
The figures you input here must be reasonable and realisable. You must avoid being over optimistic.
Feasibility Measurements:
This aspect of the plan will show researches made in various aspect of the plan. The outcome will show whether the business will go on or not. If your business does not prove to be feasible here, you will have to redefine it. Where you can’t restructure it, it has to be abandoned. Make another choice.
Marketing feasibility: We talked about market, market share and marketing above. This is the practical aspect of it. This feasibility study will contain facts and figures as to how to generate the turnover. Every marketing expenses and associated incomes will be highlighted here.
Supply chain Feasibility: This is still relating to market, market share and marketing strategies. The supply chain feasibility will highlight the sources of the goods, services or raw materials needed for the production/procurement of the goods and services.
Certainly, every aspect of the business supply chain including supply of raw materials, related labour, transportation and other logistics will be highlighted here. A lot of work – is it?
Break-even analysis: This aspect of the business plan will give you the turnover/production units that will cover your operating costs. Since it’s an estimate, you can make it iterative until you get at a figure that gives you the break-even point. Usually that is where your total revenue equals your total cost – a point of no gain, no loss. From this point you can then plan how to enhance the business.
Get more information on Business Planning
Retail Business Plan for Babies & Pregnant Women Wares Business
The break-even point occurred at 1,600,000 turnover. Before that it would make loss, and after that it begins to make profit. What pushes the profit forward are to things, the turnover and the fact that the fixed cost is stable. Click here to read about break even point/analysis.
Financial Analysis: This is where the entire business will be mirrored in an estimated financial statements. This is where you will produce the profit or loss account, balance sheet, cash flow statements, accounting ratios, financial assumptions etc.
A specialised aspect of a project requires also the engagement of professionals who specialise on the project. Complexities involved in business plan is not what you can handle on your own. If you contact me today, you will have your business plan in 5 days.
The next aspect of this plan is to put down your time lines, conclusions, and recommendations. And is the the time to write the executive summary having now known all that the business involves. You can now intelligently write the summaries in your Executive Summary part of this plan.
Wishing you well in your business endeavours.
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Finally on Retail Business Plan for Babies & Pregnant Women Wares Business, Completefmc. business plan is a professional high profile business plans covering all types and sizes of business. So, there are those for Oil & Gas, Cooking gas, Air travel companies, Estate development and management services etc. Then are those for small and medium scale businesses like restaurant business plan, food truck business plan, gym business plan, transportation and travel agency businesses.
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.
