Sample Business Plan for Fairly Used (Tokunbo) Hand Bags, Shoes and Belts in Nigeria – This is a big businesses that is about fairly used ladies handbags, men and women shoes, and men’s belts in Nigeria, london used shoes, fairly used designer bags in Nigeria, fairly used bags and okrika shoes. Get Sample Business Plan for Fairly Used (Tokunbo) Hand Bags, Shoes and Belts in Nigeriahere.Therefore, you hear about – Buy Ok Shoes And Bags And Cloths From Togo Or Cotounu, Nigeria Flourishing Second Hand Goods in Karimo Market, Abuja, List of Fairly Used Ladies Shoes in Nigeria, and the following designer bags and shoes originally bought from designer shops in Uk or in the United States of America.
Sample Business Plan for Fairly Used (Tokunbo) Hand Bags, Shoes and Belts
Table of Contents
To start with, Imported Fairly Used Products are called Tokumbo Products, or second hands good in Nigeria. They are also called Okirika, Gwonjo or OK. Have you wondered why after sometimes you don’t see a fellow trader again? But I’ll tell you why! Your co-trader entered into the business without a good plan, and those of you still in the business are just managing to be on it. This has lead to a lot of business failure. This is why I’m writing this free sample business plan for you. If you put a business plan down now for your business, you will see a lot of improvement.
As a matter of fact, Business plan will enable you see your tomorrow’s business, and perhaps take adequate control measures to forestall business calmities and failures.
Sample Business Plan for Fairly Used (Tokunbo) Hand Bags – HOW YOU NEED IT:
Consequently, this business plan is for those of you who trade on these products. My research has shown that there are two types of you. The first are those who have some money on hand to do the business, and want a business plan to fit into the amount of capital on hand, or in business already but wants a business plan to chart a better roadmap for the business. The next are those of you who wants to know how much you need to do the business so that you can know how much to look for. I will try my best to address these two situations in this post.
For such business as these, you do not need an elaborate business plan. But you need to put something down as a guide while doing the business. A five page or seven page business plan will do.
DO A HOMEWORK FOR YOUR BUSINESS @ Sample Business Plan for Fairly Used (Tokunbo) Hand Bags
Before you start your business plan, I would advise you do the following.
1. Plan for the two aspects of the business expenses usually involved in any business. These are your capital expenditure (CAPEX) and operating expenditure (OPEX).
2. The product – Determine what the products should be. The combinations of it – Product mix. Do some survey about the market. Think about the marketing strategies.
3. Do some feasibility/Financial Estimates about the expected Turnover (revenue) for the period covered by the plan. As a small business, one year business plan could do, but it’s better you envision what the business will be like in two years or three. Do also estimates about the cost of sales, that is, the cost of purchases and their carriages that will give rise to the turnover you have estimated already.
4. With all you have in points 1 and 3 above, work out a little breakeven analysis. This is to equate your cost with your revenue. Where your cost = revenue is the breakeven point. At any point here where you cost > revenue, the business would not show any good sing to continue in it. But at any time where your cost < revenue or revenue > cost, then you know that the business will be profitable.
5. Do a small Income Statement as an appraisal of the business. A 20% to 30% gross margin is very good, while 10% to 15% net profit margin is also good. With these you can now plan to eliminate wastes and take other measures to improve your turnover and your returns.
THE EXECUTIVE SUMMARY
Tokumbo Beauty Enterprises is a business enterprise registered in Nigeria to deal on second hand/fairly used/tokumbo ladies handbags, shoes for men and women, and belts. This Tokumbo Beauty Enterprises started trading on 28 November 2015.
It has a registered office at No. 2, Ladis Street, Boundary Town Market.
The owner of the business is Mr. & Mrs. Ijeoma, as a family business. This family has been trading in one line of business or the other since 2003.We decided to change to this business due to the survey we conducted on the business in march 2015, which revealed that the business of selling second hand women handbags, shoes and belts give more returns and it’s also more sustainable.
Our goal is to build a large tokumbo ladies handbags, shoes and belts shop which will attract about 50% of the buyers who come to the market. With that we hope to garner about 25% market share in this particular Boundary Town Market.
RESEARCH ON BUSINESS PLAN
We are putting up this business plan before starting the business to be able to get an overview of what the business is like, the product, market, marketing strategies, turnovers and the level of profit/returns expected from now till the next three years. OR we are putting up this business plan to be able to restrategise to achieve a higher growth rate.
We have done a good research on this business which reveals among other things that the capital requirement of three hundred thousand Naira is okay for this business. OR the business is planned to fit into the three hundred thousand Naira cash that we have on hand now.
The business plan shows a turnover of three million, five hundred thousand Naira in the first year, five million Naira in the second year and six million eight hundred thousand in the third year.
Read Also: Business plan for Tokumbo electronics
Sample Business Plan for Fairly Used (Tokunbo) Hand Bags – CAPITAL REQUIREMENT
This business is predicated on the sum of three hundred thousand Naira on hand now. This amount is realised from our savings from the other abandoned businesses.
THE PRODUCT – Sample Business Plan for Fairly Used (Tokunbo) Hand Bags:
The product to deal in is a variety of fairly used ladies handbags, shoes and belts; fairly used shoes and belts for men too. These good are imported but our sourced from importers in Apapa Wharf, Nigeria.
Gucci bags for Fashion & Beauty
All the handbags are very neat and of good quality. Most of them are designer bags and shoes originally bought from designer shops in Turkey and Australia.
Italian Belts for fashion and for beauty.
Belts of varifiable qualities
Italian fairly used.
Okirika shoes but good and authentic.
Sample Business Plan for Fairly Used (Tokunbo) Hand Bags – MARKETING STRATEGIES:
We are going to use the following strategies in marketing the goods.
- Open display in our shop
- Personal deliveries to customers
- Printing of marketing fliers for publicity
- Contracting www.compltefmc to place advert on the website
- Use of social media to reach all in my contact list
- Attendance of market exhibitions
- And other
FINANCIAL ESTIMATES: TURNOVER
|
DESCRIPTION
|
UNIT
PRICE N |
YEAR
1 |
YEAR
2 |
YEAR3
|
|
HANDBAGS
– GENERAL |
1,500.00
|
3,000
|
4,400
|
6,000
|
|
HANDBAGS:
DESIGNERS |
6,500.00
|
800
|
1,200
|
1,500
|
|
LADIES
SHOES – COVER SHOES |
2,500.00
|
8,000
|
9,200
|
12,000
|
|
LADIES
SHOES – OTHERS |
1,600.00
|
9,000
|
10,600
|
13,000
|
|
MEN’S
SHOES |
500
|
1,200
|
1,800
|
2,200
|
|
MENS
BELT |
180
|
600
|
900
|
1,300
|
EXPLANATORY NOTES @ Sample Business Plan for Fairly Used (Tokunbo) Hand Bags :
- This is the breakdown of how you generated the turnover. What you should now do is to derive the turnover value in Naira. That is simple; multiply the figures in the years’ columns with the unit prices. The total of it will give you the turnover for the particular year.
- You will do the same for the cost of sales ( Purchases and carriage cost) indicting number of items bought and at what prices and how much it cost to carry them down to the business premises, in a table as I have done for the turnover.
- Another thing you will then do is to estimate your operation expenses. Wages for the staff if you have, electricity bill, water bills, call cards etc and aggregate them too year by year.
- You can now use these three financial estimates to work out your breakeven analysis. Where purchases + Expenses = Turnover is your breakeven point and values respectively. With this you can now, work to increase the turnover to be able to generate profit, that is where Turnover > purchases + Expenses.
- Now you can work out your Income Statement, i.e., Profit or Loss account.
Sample Business Plan for Fairly Used (Tokunbo) Hand Bags – FOR FURTHER INFORMATION:
Complete Full Marks Consultants Limited is a firm of chartered accountants, auditors, taxation and management consultants. We carry out accounting, financial and other business related services. No matter your business, we have information about it, if you need our help.We will incorporate your company and register your business with CAC Nigeria. We will also process your mining licences, and your tax clearances.
For you to do a better Business Plan, you may need research materials, breakeven analysis, product information, marketing information, other financial analysis, and other business plan assumptions, contact us via cfmclimited@gmail.com or +234 8034347851.
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.
