Writing A Business
Plan:
Your Gift Shop Business Plan -- In Just 7 Steps
(Great for gift
baskets, souvenir shops and import shops too!)
What Kinds of Businesses Benefit from the 7 Step Gift Shop Business Plan?
Well, quite a few. There is an IRS category 5900: Miscellaneous Retail. Gift shops fit into that category, and so do all of these:
- Drug stores
- Liquor stores
- Used merchandise
- Sporting goods and bicycle shops
- Book stores
- Jewelry stores
- Hobby, toy, and game shops
- Gift, novelty, and souvenir shop
- Luggage and leather goods store
- Sewing, needlework, and piece goods
- Catalog and mail order houses
- Merchandising machine operators
- Direct selling establishments
- Fuel oil dealers
- Liquefied petroleum gas dealers
- Fuel dealers, misc.
- Florists
- Tobacco stores
- News dealers
- Optical goods
- Miscellaneous retail stores
While these seem like rather strange bedfellows, the IRS seems similarities, so odds are that your banker will too. Basically, the same type of information is needed by all of these businesses when presenting a business plan.
There really are some of my very favorite stores in this listing: book stores (which I adore in all forms), florists (so creative!), needlework, and all kinds of specialized small stores to tickle my fancy. Gift basket stores and import stores will also do great following the guidelines in the 7 Step Business Plan for a Gift Shop. There are lots more that benefit too!
When David Meets Goliath On Main Street
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 retail business plans can offer you.
Use The Local Advantage In Your Gift Shop Business Plan
You are "local business". You are exactly what most local 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."
First Things First For Your Small Retail Business Plan
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 retail business plans.
Tie down your location first.
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.
As you are getting the basics tied down, begin working on your small retail store business plan. Use the Gift Shop Business Plan as your master (you can easily change it to suit your needs).
Your artistic ability will shine in this gift shop business plan. Your gift basket business and import store, and most other small retail stores, will shine too.
For more information on the Gift Shop Business Plan, click here
There are only three components that you need to create a great business plan for your store:
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Your workbook |
 |
Your business plan template |
 |
Excel spreadsheets |
The Components Of Your Small Retail Shop Business Plan:
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Customer Reviews of the 7 Step Gift Shop Business Plan
Overall rating: (4.5 out of 41 reviews). Here's a sampling:
Sadie Monahan (New York). "You were right. I tried to get financing without a business plan, and it just didn't work. Yeeesh -- it worked fine a few years ago. The bank sent me home like a six year old who had misbehaved. So I did the business plan and went to a different bank. That will teach them!"
Manuel Martinez (Las Cruces, NM). "The whole family pitched in on the business plan. I had everyone digging up information. It was great! Gracias."
Krystal "No deal. This is far too much work for the small store I want. I think I'll borrow the money from my aunt."
Alain d'Ambroise. "The parts about the written business were good. I would have liked to see a list of recommended suppliers."
Martine Lipsome (The Keys, FL). " In all the years I've lived in the south, I've never seen an umbrella store. And we do use umbrellas! So I used the Gift Store Business Plan to create a foundation for funding of my umbrella store. Using images of the umbrellas really tickled my banker. And every time I went in, I took a different umbrellas -- even on sunny days. It became a running joke, but it worked."
Renee duChamps. "I lived in Paris for many years and have great contact for suppliers. This is just so exciting!"
YOUR REVIEW OF THE GIFT SHOP BUSINESS PLAN
We would love to learn of your experience with the 7 Step Gift Shop Business Plan. Please go to our Business Plan Review Page and tell us what you think!
