East Meadow long island and the surrounding area are very wealthy. Over 40% of its residents earn more than $70,000 annually. They have nice cars and want them looking nice. There are five different car dealerships within a three-mile radius which will require car washing services for the various fleets. Lastly, there are many different local businesses that have company cars and that require clean appearances. These potential customers require a car wash that meets their needs and fits their budget. We will happily fill that need.
Solution
Soapy Rides will offer three services to customers: exterior cleaning, interior cleaning and detailing. Soapy Rides offers high-quality services at an affordable price.
Market
The market is a great place to start a business. The area is home to over 40% of the $70,000 annual income households. Many of the residents live in the neighborhood and own, lease or lease new cars. They place great emphasis on how their cars look and feel. There are five car dealerships within three miles from the proposed Soapy Rides location.
Competition
East Meadow has one more hand car wash. It is relatively new, and it is trying to compete against automated car washes by offering lower prices. It does not target customers looking for high-quality cleaning.
Why Us
Soapy Rides is offering three services to its customers: exterior, interior, and detailing. Soapy Rides has no true competitors that are trying to offer a high quality service for a reasonable rate.
Expectations
Forecast
Initial financing will come from Mark Deshpande’s personal investment. Cash flow will finance future growth. The company will grow slowly, but Mark will retain full control. It is hoped that in year three the company will be able opening a second facility. It is envisioned that an outside loan or equity funding will be sought at that time.
Financial Highlights for the Year
Financing Needed
Mark Deshpande plans to invest $40,000 in the transformation of the site into a carwash.
TLC Wedding Consultants provides full-service consulting for all aspects of weddings, holy unions, and anniversaries. Our event planners have many years experience and are highly skilled professionals. TLC is different in that we give each client our complete attention. We listen to your needs and work closely with you to create the event that they have in mind. Our clients’ desires become ours. Our clients can choose from a Western, Tropical, Las Vegas, or more traditional wedding. Our services include weddings. We also offer anniversary consultations. Budget planning is available. Etiquette questions are answered.
1.1 Mission
TLC Wedding Consultants can provide complete service for your wedding, holy unions or anniversaries. Our experienced consultants have years of event planning expertise. TLC is unique as we give all our clients our complete attention. We listen to our clients and work together to create the event of your dreams. Our clients are our customers. We can help you plan your wedding or anniversary party in any style, including Western, Tropical, Las Vegas, or more traditional. Our services include weddings. Receptions. Anniversary consultations. Budget planning. Answers to etiquette queries. Full-service referrals to florists. Hair stylists. Entertainers. Musicians.
1.2 Objectives
We want our client’s wedding to be memorable. We offer a range of services and packages specifically tailored to each couple. We are optimistic that this venture will succeed and that we can expect modest increases in our net income over the next year.
1.3 Keys to Success
The keys to our success are as follows:
We are available to meet the needs of our clients promptly and efficiently.
Maintain strong working relationships with vendors, such as florists, hairdressers and bridal shops.
University Cycle Works is an established bicycle specialty store, offering retail sales of new bicycles, parts and accessories, clothing, and maintenance and repair service. It is in a high-traffic area with a focus on universities.
University Cycle Works’ primary target market is the university student community. They typically have a turnover/growth of about 25% each year. The secondary market for University Cycle Works is the university faculty staff. The tertiary market includes the greater Metroburg area.
Hubert “Hub” Freewheeler, who has been assistant manager at University Cycle Works for five year, has seven years of experience in the bicycle retail and service industry. Hub explored the possibility of owning his bike business when he was just two years old. However, the Metroburg area seemed overcrowded with bicycle shops. Hub approached his boss to discuss the possibility of buying an existing store. Two years of negotiations culminated in the sale of University Cycle Works to Hub, effective July 1, 2001. It will result in a seamless transfer, leaving behind all staff, bikes, locations, and operations.
Metroburg Business Bank has requested that this business plan be prepared. It will also be presented to major suppliers of bicycles, accessories, parts and other products. A substantial part of the past year’s planning has been negotiations with these suppliers to maintain the current financial agreements as the business changed hands. Hub’s close working relationship with the representatives of the different suppliers was an asset to these negotiations. These sales reps lobbied for Hub. The suppliers have approved continuation of the existing terms and dating programmes, subject to review of the business plan.
This sample plan does not include names, proprietary information or financials.
1.1 Objectives
The objectives for University Cycle Works are:
University Cycle Works continues to deliver the highest quality sales and services.
Facilitate a smooth transfer of ownership
Maintain a financially strong business. Validate the trust and advocacy of others for this business purchase.
Within one year, repay the family members’ start-up loans.
Monthly and yearly sales equal or better than those of the previous owner.
The goal is to increase sales of rainwear and garments that are bicycle-specific over the next year.
To maintain growth in service and sales, focus marketing on the new student influx.
1.2 Keys for Success
Our prime, high visibility location right next to Metroburg State University has been crucial to our success in being the bike sales and service provider of choice for the university community.
The continuance of established accounts payable, sales programs, and co-op advertising resources by suppliers of bicycles, accessories, and parts makes the financial plan reasonable and attainable. Without this support, it would be unacceptable to take on the risk of purchasing the business.
University Cycle Works, a trusted name, is available for purchase and continued use by the customer and employee.
The shop’s employees are just as important as the other items. It is crucial to retain and encourage them. They are the backbone of University Cycle Works. University Cycle Works has always valued long-term relationships with its customers. We want to be part in the university experience by addressing our customers by name.
Although many people long to own their own home, cultural barriers as well as a lack of affordable housing are obstacles that may prevent this dream becoming reality. Reed Properties works to preserve these dreams. This new real estate brokerage will not only define success by the number of units closed and sales volume but also by whether people were helped in the process.
Claudia Reed, Reed Properties’ founder, is a professional who has more than 15 year experience in the Richmond Metro.
A recent Census Bureau report on the economic status of the nation’s minority groups should noted that all segments surveyed–African American, Hispanic, and Asian-Pacific–registered significant growth in average family income during the past two years. Fannie Mae, a secondary market mortgage company, reported that immigrant homeowners grew by 47 percent between 1980-95 and is expected to increase 45 percent to 6.8 millions people in the next ten year. Recent Fannie Mae surveys found that renters are three times more likely to make home ownership their top priority than other renters. On the whole, immigrants are more likely than any other adult demographic group to buy a home in the next three years.
In Richmond, the Latino community has grown tremendously, but have not been targeted by the city’s real estate professionals. In Richmond, 27% of new entrants were Latinos between 25 and 34 years. Targeting Latino home buyers is good business. Latinos are expected make up half of metro population in 20 year’s, making them one of the fastest-growing segments of the city’s real estate market.
Reed Properties will continue to be a major player in the Richmond Metro area’s revival.
Claudia Reed will provide counseling, education programs, and credit repair services. Her radio talk show, “Your New Homeâ€, will feature educational programs, credit repair initiatives, and HUD counseling.
There are currently three low-income housing projects in Richmond, totaling 1,500 units. These will be sold as affordable housing. Claudia was instrumental for helping community organizations to win the ten million dollars grant for the renovation projects.
1.1 Objectives
Open the door of home ownership to residents of the Richmond Metro area.
A business that serves the community can be built.
You can capture a large market share from the new business that is being created by current and future building and renovation projects.
1.2 Mission
The mission of Reed Properties is to increase minority homeownership in the Richmond Metro area.
Elite Medical Transcription is a high-quality, low-error rate provider of medical transcriptions. EMT will concentrate on two market segments: physicians practicing alone and small practices of psychologists. These two segments are the most reliable users of outside transcription services. EMT will also service other markets that have more limited service needs.
EMT will offer convenience and accuracy to Eugene’s physicians through the use advanced software. They will also require extensive training for their staff in order to ensure highly qualified transcribers.
EMT will soon be recognized for its market leadership due to its competitive advantage and the growing market. The company will be profitable in eight months, and it will have a solid net income by year three.
1.1 Objectives
Elite Medical Transcription’’s initial three years of operations have the following objectives:
To build a service-based business whose main goal is to exceed customer’s expectations.
Superior service is key to increasing the number of clients by 20 percent
To see 45% of our clients return to us again and again.
To create a home-based, sustainable business that lives off its own cash flow.
1.2 Mission
EMT’s mission is to provide the finest medical transcription service available. We are here to keep and attract new customers. All else will fall in line if we keep this maxim in mind.
Crest Systems is a Value Added Reseller (VAR) and a brand new company. The company is focused on marketing speciality inventory software products to over 1,200 VARs that sell in vertical markets. Each market is unique and serves a speciality industry. In addition to the software, Crest will sell the inventory data collection hardware that will operate the software. VARs that sell to vertical markets have traditionally focused on the specific product or service of their industry. Even though their customers need inventory controls, these VARs still haven’t had a product to offer them until now.
A customer must be able to purchase an inventory management solution at a cost of less than $5,000 to ensure product success. Crest Systems has signed a strategic alliance agreement with Promerit Engineering to sell its software products through these VARs. Promerit Inventory Basic, which will be released in May, is the first product. Crest Systems projects sales of 20,000 units in 36 months. The product will be available for purchase at $850
From the sale, the VAR will be paid $400 Crest Systems will receive $250 per unit. Crest Systems will also sell hardware that will use the software. Crest Systems will sell portable data collection units from Symbol and PSC. The price per unit will range from $2,000 to $3,000. Crest Systems receives between $600 and $900 for each unit. The total package of software and hardware will be less than $5,000.
The company is primarily focused on vertical markets but VARs who are warehouse managers may be interested in a low end data collection solution. Crest Systems will put together 1,000 VARs who manage warehouses and sell Promerit Inventory Basic.
Crest Systems will also develop specialty software modules that can be integrated with Promerit Inventory Basic software. These modules are expected to retail at $800 to $1,000. Crest Systems will continue to build strong business relationships with VARs to enable them to offer additional software or hardware products.
Crest System founder Richard Torres is a veteran of selling to vertical markets for over 12 years. He was Cycon Systems’ top salesperson, with over $3M in sales last year.
1.1 Objectives
Crest Systems’ objectives are:
In the first year, we sold 8,000 units.
It is crucial to build strong relationships with VARs in order to increase sales.
Each year, increase the sales of software modules by 15%
Promerit Systems should be in constant communication to ensure customer satisfaction and product quality.
1.2 Keys to Success
Crest Systems’ success is dependent on these key factors:
Inventory control solutions for less than $5,000
Rapid and reliable response to questions and other requests from VARs
A reliable administration that is ready to serve VARs, prepare accurate billing, follow-up on orders and other documentation, and maintain a close watch on expenses and collection of accounts receivable.
Martini Astrology and Tarot is an Oregon-based business that specializes astrology and card reading. Martini will initially operate as a home-based business, primarily from the owner’s residence. Sarah Esppe, founder and owner will also provide out-call service by appointment. Sarah Esppe saw the need for a dedicated space between Years One to Three.
Martini will be based in Eugene, OR, a liberal, alternative community within the Willamette river valley. Martini will target three distinct customer groups. The first segment is composed of the under 29 year olds. This segment has 95,000 customers potential and is growing at a rate of 15% per annum. Age 30-45 year-olds are the second segment with a 10% annual growth rate and potential 150,000 customers. The 46+ age group will be the last to be targeted. This group, which includes 50,000 people, has the slowest annual rate of growth at 5%.
Martini’ will use Martini’s readings for entertainment purposes and consulting. Sarah’s goal is to build long-lasting relationships with her clients by using her services on a weekly- or bi-weekly basis. Sarah will obtain this goal by providing her clients with relevant, accurate, and quality readings at reasonable rates.
Martini is solely owned and operated by Sarah Esppe. Sarah has been offering readings for the past four years. Sarah began her formal training at Iowa Center for Astrology. They are a recognized top-three facility in the United States. Sarah completed their 8-month program and was awarded their respected certification. Following her time at the Iowa Center, Sarah studied for four months at Tarot University in New Orleans, receiving the highest level of certification available, the Master Tarot Reader degree. Sarah will make use of this formal training for the best astrology & tarot consulting.
Martini is an exciting start-up business. Sales have been conservatively forecasted to reach $68,000 in sales in Year One, rising to $86,000 by Year Three. Sarah will reach profitability in Year One.
1.1 Objectives
The following are the goals for the business:
Attaining break-even with positive cash flow
You can make enough profit to keep a place outside your home, and also buy a booth at the Saturday Market or other local festivals and fairs.
You will be known as an entertaining and accurate tarot and/or astrological reader.
1.2 Mission
Martini Astrology & Tarot can provide entertainment-oriented, high-quality astrology or tarot readings. I will provide high-quality, precise readings customized to meet my clients’ needs. To make astrological and Tarot readings more accessible to my clients and at a lower price, I will be available for both in-call as well as out-call readings. Martini must demonstrate trustworthiness and accuracy in order to earn customers’ respect.
1.3 Keys for Success
Customers are satisfied with accurate, complete readings at an affordable price.
To maintain client relationships, you must develop enough word of mouth and advertising revenues.
Purchasing a booth at the Saturday Market, where I will be able to give tarot and astrology readings each weekend.
DIY Wash N’′ Fix is a new approach to auto care. Do-It Yourself (DIY), is gaining popularity in America, as shown by the increase in DIY housing suppliers. The market is still lacking in DIY auto repair. While many companies offer parts and tools, they do not provide a place for the work. Therefore, our business idea is to provide a professional environment in which to wash, paint or repair your automobile. DIY Wash N’ Fix is a timely idea, because the current economic slowdown in the U.S. may influence consumers to revise their spending habits. Our facility is likely to attract people who have the skills and desire to learn about auto repair. Also, after-market auto parts sales have increased, which is a sign of Americans’ abilities and willingness fix their own cars. The car wash business is attractive due to its steady profits and low investment. An opportunity for excellent acquisitions currently exists in the car wash and auto repair industries, given that many of these businesses are owned by baby-boomers who are anxious to retire.
DIY Wash N’′ Fix targets a particular market that wants to repair their cars but lacks the space or equipment. This is a growing market in urban areas, because many people live in apartment complexes that restrict on-site auto repair. Our target market consists of 90% males aged 18 to 55 with annual incomes between $20,000 and $40,000. These demographics are the reason we chose Texas, Florida, or California to locate our facility.
DIY Wash NՉ۪ Fix is a fresh and innovative concept. We have calculated that it will be a very profitable venture. The fact that we are the first in this business gives us a first-mover advantage over any competitors that may follow.
1.1 Keys to Success
These are the keys to success in this industry.
The quality of the service
Good business practices.
Skilled workforce
Information provided to customers/marketing efforts
Technologically advanced equipment.
Environmental issues awareness.
The above trends provide some reasons for our business to be successful. We are seeing the American economy slow down and possible rising costs for our rivals (technology, labor environment, etc.). DIY will grow because of the current American economic slowdown and eventuality of rising costs for our competition (technology, labor environment, etc.). Moreover, the bad image that certain repair stores have is an advantage for us because people may not trust them anymore. The repair industry is an excellent investment because of its potential profit projections.
Two major threats were also highlighted. The first is the fact that people might not be able repair their vehicle on their own because of the advanced technology in automobile electronics. Many states have laws that require regular safety inspections and emissions testing.
Car Wash Competitors
Single-activity Car Washes: These are typically private-owned businesses which offer car wash service only.
Multiple-activity car washes – these are chains that offer many different services. AAA, for example, is a California-based facility that offers car-care services. Recently, it announced the opening of a full car wash.
There are fewer multiple-activity car washes. They are nevertheless more like our business process, and they are therefore considered to be the primary threat.
1.2 Objectives
It is important that we talk about the inherent risks in our business model. Our plan assumes that there is a part of the population that can do basic repairs on their vehicles, but they are limited by lackof proper workspaces and the right tools. Another key factor to our success is appropriate pricing to attract and retain this customer segment. Finally, a risk inherent in our business is that a large unforeseen expense will arise that we have failed to work into our financials.
EvergreenTV Productions, Inc. is a multi-faceted company, with the potential to branch into new venues as the company grows. There are currently three phases in development. The first is our home division. By developing this division to include three stores in the Tampa/St. The Tampa/St. Petersburg area can be expanded to provide enough revenue to support two other divisions: travel and tour, and business to businesses. We will however need additional funding in order to achieve this goal.
The Home Division produces digital video scrapbooks by digitizing customers’ photos, setting them to music, and using selected digital effects to create the video memory. Our business system, the operations manual, is designed to produce the highest quality videos every week while still maintaining a strict standard for quality. This system and the video production business plan will allow us to generate the revenue necessary for us to accept other projects that are more common with a production company.
The Tour and Travel Division is able to produce specialized videos on a range of projects that are tailored to the client’s needs. This division creates videos of local importance for play in doctors’ office waiting rooms, videos to advertise area businesses, as well as tour/travel videos. We plan to make this division self-sufficient in the first 12 months.
The Business to Business division (B2B), markets the news stories and offers a service to post resumes for students in university communications. These stories are sold nationwide to small market television stations. This division is the core of EvergreenTV Productions and the reason we were incorporated. Our website has been completed after seven months of development. We are ready to revolutionize television news programming. We select only the best news stories from college and university students to create an impressive collection of ‘#8220’ timeless news stories. Market research shows that almost every day, small market tv stations have to broadcast ‘#8220’ news. It can be either regional, local or national. Many subscribe to costly services, with little choice for story selection. EvergreenTV Productions provides quality news stories as well as ‘filler information’ which stations can use any time of the day. EvergreenTV Productions will provide this division to fulfill two needs. Students who want to gain professional experience and be introduced into the television news business. We are helping students get that first step by publishing their resumes, promoting and sharing their news stories on our website. The second is the small market television stations’ needs for news programming. They cannot afford to spend tens or thousands of dollars.
Objectives
Short Term
Open two stores in the Tampa/St. Opening two stores in the Tampa/St. Petersburg areas by the end of year 2. As a franchise, each store will be following a business model that allows them to work efficiently while still maintaining high standards of quality.
Make an hour-long video highlighting points of interest in Tampa/St. Petersburg area to be sold to local doctors by the end. Tape sales will support travel and expenses for goal three.
By the end of the sixth month, generate an inventory with 15 stories for the business-to-business division and 50 stories by month nine.
Reach 30 small market stations in the first year.
Long Term:
B2B Division sales rise to XX during the third-year.
Build B2B news articles inventory to a minimum number of 300 stories by year three.
Open two home-division stores in each market throughout the state every year. i.e., Naples, Miami, Orlando, Jacksonville, Pensacola. To ensure product control and consistency, every store should follow our business model.
Profits can be reinvested into further expansion or business growth.
Keys to Success
Home Division
Product quality. Begins with a complete customer’s understanding of the process. Customers should be comfortable turning over their treasured photos for production, and should be completely satisfied with the end product.
Implementation of a business system. Each employee must be fully trained to support other employees in achieving the business system’s goals and objectives. This is the first step to success.
Marketing.
Initial market saturation within key customer demographics is essential, followed by an extensive referral program, as outlined in the business system guidelines. It is important to present to selected demographics such as professional photographers and retirement villas. It is crucial to develop alliances and copromotions programmes with similar businesses (such as wedding photographer, disc jockeys or travel agencies) in order to continue growth.
Tour and Travel Division:
Product quality/customer satisfaction. No matter what genre, all productions must satisfy the client to the fullest extent. It is essential that employees learn how to anticipate clients’ needs and what the company can do to meet those needs. No project is too small to ignore the importance of quality and customer satisfaction.
Development of a referral programme. This division will not actively solicit projects but will respond only to the referral clients’ requirements. The consistency of the client’s expectations and the output of this division will be enhanced by a well-defined network of referrals.
Business to Business Division:
Product quality. Each story received is subject to extensive review. Guidelines for communication professors to encourage the creation of these stories.
Marketing. Marketing. Consistent, repetitive, and personal contact with colleges, universities, technical school, and tv stations in bottom 115 Nielsen markets. Notifications of upcoming stories to students and stations via news releases. Faxes, newsletter mail-ins, and a constantly updated website promoting the students and product.
Management. On-time product delivery. Budgets under control. Budget control. Legal and accounting advice.
Mission
#8220In the factory Revlon manufacturers cosmetics, while in the shop Revlon sold hope. Charles Revson, founder Revlon.
While EvergreenTV Productions, Inc. operates as a production company, it sells personal memories, opportunities and trust.
The home division creates video scrapbooks set to music, but sells memories and quality service. Our customers must have faith that we will preserve their memories and produce each video as if it were for them. It is important that employees feel they can meet the expectations and are open to new ideas in order to improve our business model. Employees are also customers within the company and should be treated with respect.
The tour and Travel Division is open to new video projects. So the client fully understands that our goal. While we may suggest alternative solutions and offer our experience, the client is always the priority. We will not alter the project to meet our client’s expectations if we are unable to achieve their goal.
The business to business division of EvergreenTV Productions, Inc. understands the frustrations and needs of small market tv news, and the desire of broadcast students to become part of the tv news environment. EvergreenTV Productions combines the expertise of TV newsrooms to offer a service that meets the standards and expectations set by tv news directors. It makes professional experience accessible to hundreds of broadcast students every year. It brings together students and stations in accordance with industry quality standards. It is able to make a profit while keeping its standards high and also generates cash. It provides a personal service and guidance system to students. It provides professional services and affordable programming opportunities to stations. EvergreenTV Productions is always looking for new news programming ideas in order to grow the company and serve its clients loyally.
The child care industry has become necessary due to increasing dependence on two incomes. An increasing number of children are in dire need of a safe, enriching environment.
Solution
Safe Kids Child Care will be able to provide a secure and caring environment for its clients’ children, as well as personal attention. The center has two-sided goals: to help parents feel better about the care they give their children and to make it enjoyable, educational, and safe for the child.
Market
Safe Kids Child Care is a local child care provider that focuses on Lynn’s 10-mile radius. Children can be accepted either on a full or part-time base.
Competition
In the area, there are more than 300 child care providers. KinderCare and larger commercial child care centers like KinderCare hold the majority. Because of their good reputation in the market, these larger chains are able to compete well. Safe Kids Child Care offers a lower staffing ratio that is more appealing to parents. In addition, the child care fee levels are maintained at 5-10% less than those of large commercial chains.
Why Us
Safe Kids Child Care provides a lower staff ratio than other child care facilities, which is attractive to many parents. In addition, the child care fees charged by Safe Kids Child Care are still 5-10% less than those of large commercial chains.
Expectations
Forecast
Safe Kids provides child care for the Lynn area. Safe Kids will grow to sustainable profitability over the next 3 years. Through a combination of well-priced services, outstanding customer service, and a well seasoned management team, Safe Kids will quickly gain market share and a reputation as a premier child care provider.
Financial Highlights per Year
Financing Required
Our business will need $40,000 to begin. Each owner will contribute $20,000 toward our initial costs.
