Free retail business plans tackle the issues
relating to all sorts of stores, from exotic parrot stores to custom
clothing designers.
KEY CONSIDERATION
The world of the "little guy" (or
gal) is nearly gone. Huge boring boxes have taken over the retail
world. Most people know the aisles of their local K-Mart as well as
they know their own neighborhood.
This is not a cheerful circumstance for
this writer, nor, I suspect, for many of you. But there is light at
the end of the tunnel. That light is has two components: unique
product and personal service. Even Nordstrom's well-publicized customer
service cannot compete with that provided by a local retail shop
owner. When your retail store can provide those two elements, you are
ready to take advantage of all that free retail business plans can offer
you.
STRONGEST ADVANTAGE
You are "local business".
You are exactly what most banks say they promote. Well, give them
every reason possible to help you. If you will be doing much
promotion, even offer to add their name, "With funding assistance of My
Local Bank."
STRONGEST DISADVANTAGE
It's going to be tough for you to get a
location that will match your talents. The big malls get humungous
amounts of traffic. Not only are these malls very expensive, but they
nearly all prefer large chain stores as clients. In fact, since your
store will provide unique product, you may not cater to the huge crowds that
the mall attracts at all. So location, location, location is likely
the biggest issue you need to address in your free retail business plans.
OVERCOMING THE DISADVANTAGE WITH YOUR FREE
RETAIL BUSINESS
PLANS
Tie down your location first.
Free retail business plans tend to focus on
the written material. Be assured, your legwork upfront will serve you
better than more pages in your business plan. Identify a location that
provides decent traffic, easy access, and is near your potential client
base. If you can accomplish that, you will be a big step on your way.
Prove that you have the experience to make the store successful.
There are two types of experience that you
will need to prove: Your knowledge of your niche product, and your
knowledge of marketing that niche product.
No, retail business plans cannot
address every possible product or scenario that might occur. But focus
on the two noted above, and you will do well.
Use the retail business plans
outline to prove that you have the marketing background and skill to make
your store
successful.
First, you need a track record in your
product niche. Note: I do keep using the term
"niche". You cannot compete with Target or Office
Depot. Don't even try it. You really need to focus to a
product niche that the biggies don't deal with.
It doesn't matter whether your knowledge
comes from a career or from a hobby, as long as real, direct knowledge is
there. And don't be shy about touting your talents -- the lender
will think you don't know a thing about the product unless you demonstrate
that you do.
Identify your core buyers. If
you are selling specialized golf clubs, your market is obvious. If
you want a flower shop, the market may not be as obvious. Whatever
it is, identify it.
Identify the number of your core buyers in your selling
area. A Scottish shop need only have a slew of McDougals et
al. A wedding gown shop is looking at a very different clientele.
Whichever it is, quantify it.
Base your projections on valid, provable statistics.
No pie in
the sky here -- it just won't fly.
OTHER PLUSSES FROM YOUR
RETAIL STORE BUSINESS PLAN
Your lender may or may not be a potential
client, or even know what your product is. Be sure to really
identify the product. For instance, there's a big difference between
a "sports store" and a "custom fishing lure shop".
FOR ADDITIONAL INFORMATION
FOR YOUR RETAIL STORE BUSINESS PLAN AND YOUR RETAIL STORE MARKETING PLAN
For traffic information on your retail
location, contact the
owner/manager of the retail center. Also go to your city or country
planning department where you can get traffic counts and information on
housing and construction in that area. You may need to look to
specialized organizations, like boating clubs or miniature railroad
groups, to really get a handle on your potential market.
For statistical information for your
marketing plan for a retail store on a particular industry, go to BizMiner.
At the home page, look for the Industry
breakdown on the bottom of the page. Click on "Retail"
This is your gateway to hundreds of
specialized industry reports, one that is likely to be perfect for your
business, such as
- Apparel Retail Store
- Auto Parts Retail
- Automobile Dealers
- Computer and Software Retail
- Consumer Electronics
- Cosmetics and Beauty Supply
- Department Stores
- Discount and Variety Retail Stores
- Drug Stores and Pharmacies
- Home Furnishing Stores
- Jewelry and Watch Repair
- Music, Video, Book and Entertainment
- Office Products Retail
- Party and Holiday Accessories
- Toys and Games Retail
... and lots more.
Click on one of these topics to go to a list of reports specially designed for your area
of interest.
Be sure to check in the left hand
navigation bar for "VIEW ALL REPORTS", then "AREA DEMOGRAPHICS". This will likely
provide the statistics you need to prove that your market is there.
YOUR ONLINE
PRESENCE
The internet is the great
leveling field for small entrepreneurs. Here is where you can
compete against anyone in the world, and do it effectively. In fact,
the stronger your niche area, the better the possibility that you will be
a strong contender for online visitors.
Take a look a a few of the success
stories -- sites created by individuals to promote their own businesses
and hobbies. And if you need help establishing your online store,
contact Your SBI Coach.
YOUR LIKELY
LENDER/INVESTOR
The SBA
is a strong lender in the retail field.
If yours is an established retail
business looking to expand regionally, nationally or internationally, a
venture capital firm may be your best choice. Be sure to check out
the newest development in venture capital: venture
lending.
ONE STEP
FURTHER IN YOUR RETAIL BUSINESS PLAN
Because you want your
business plan to be unique, take a look at
this business plan template.
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Your 7-Step Business
Plan will lead you step by step in creating an amazing proposal
for your store. It is stuffed full of information. Best of
all, the templates are in MS Word and MS Excel, two programs you
already know.
Click on the book cover
for more information.
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THE LAST
WORD ON YOUR FREE RETAIL BUSINESS PLAN
Your business will be as
strong as your niche. Identify that niche, and you will hit a home
run. Miss it, and you will be wasting a lot of money. Take
your time to really nail down your concept and your market. Then
head for success.
Comic Book Retail Business Plan. What a great, fun store!
With planning, it can also be hugely successful. Get your books in a
row before starting out.
Business Plan for Automotive Parts Store. Rather than competing
with Manny, Mo and Jack, find your own niche. Then make it shine as a
real resource for the auto enthusiasts in your area.
Sample Business Plan for a Gift Shop. Your creativity will serve
you well, both in your business and in your business plan. Establish
your market, and you will be well on your way.
Business Plan for a Specialty Food Store. Pastas and teas and
southern delights -- there is just no end to the amazing food specialty
stores. Find a way to make yours stand out, and chefs will be a path
to your doorstep.
Free Sample Clothing Store Business Plan. From infants to
oldsters, everyone needs clothing. It is no wonder that this is one of
the most popular types of businesses to open. And it is one with the
most failure.
Free Retail Florist Business Plan. The splendid orchids and roses
are only the beginning of your business. Your business plan must
outline the real aspects of the business too.
Pet
Store Business Proposal. Whether your pet store creatures wriggle
or swim or leap, you will find a business plan for a pet shop invalauble.
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Free Retail Business Plans
