Business Plan Outline

In order to begin outlining my own business plan, I had to adjust a business plan according to the type of business I plan on doing, photography.

I followed the score.org business plan template and created an outline, which I plan to follow and tailor to my needs.

Photography Business Plan

1)      Executive Summary

a)      Do this last

b)      Less than or equal to two pages

c)       What you do, who your costumers will be, who are the owners, future for business

2)      General Company Description

a)      What type of business, what do you do?

b)      Mission Statement

c)       Company Goals and Objectives

d)      Business Philosophy

e)      Who to market products/services?

f)       Describe your industry

g)      Company Strengths and Core Competencies

h)      What type of legal ownership

3)      Products and Services

a)      What are your products/services?

b)      Competitive advantage/disadvantage

c)       Pricing/fee

4)      Marketing Plan

a)      Market Research

i)        Statistics, numbers, sources

b)      Economics

i)        Size of market

ii)       Current demand

iii)     Trends

iv)     Growth potential and opportunity

v)      Barriers

(1)    Capital, production, marketing cost

(2)    Consumer acceptance and brand recognition

(3)    Training and skills

(4)    Tax and quotas

vi)     How to overcome the barriers

vii)   How will the following affect you

(1)    Technology

(2)    Government regulations

(3)    Economy

(4)    Industry

c)       Product/Services

i)        Describe what you do

(1)    From customers point of view

ii)       Features and benefits

(1)    Major products

(2)    Important features

(3)     Benefits

(4)    Benefits afterwards

d)      Customers

i)        Type of customers, characteristics, demographics

ii)       Demographic profile

(1)    Age

(2)    Gender

(3)    Location

(4)    Income Level

(5)    Social Class and Occupation

(6)    Education

(7)    Other

e)      Competition

i)        Other competitors?

ii)       Major competitors?

iii)     How will your products/services compare?

f)       Niche

i)        Uniqueness

g)      Strategy

i)        Outline strategy that is consistent with your niche

h)      Promotion

i)        Advertising

ii)       Business image

(1)    How you want customers to see you

iii)     Graphic Image support

(1)    Logo designs, cards, brochures, letterhead, signage, interior design

i)        Promotional budget

i)        How much will you spend to promote business?

ii)       Before startup

iii)     Ongoing

j)        Pricing

i)        Explain your methods of pricing

ii)       Compare your prices with others business’

iii)     Importance of pricing

iv)     Customer service and credit policies

k)      Location

i)        Where will you provide your services?

ii)       Location important?

iii)     Location convenient for customers?

iv)     Consistent with image?

l)        Distribution Channels

i)        How do you sell product/services?

m)    Sales Forecast

i)        Month-by-month projection

ii)       Make 2 kinds

(1)    An estimated guest

(2)    A worst case scenario

5)      Operational Plan

a)      Production

i)        How and where are your products/services?

b)      Location

i)        Type of location?

c)       Legal Environment

i)        Licensing/bonding requirements

ii)       Permits

iii)     Insurance Coverage

iv)     Trademarks, copyrights, patents

d)      Personnel

i)        Employees

ii)       Type of labor

iii)     Where and how will you find employees?

iv)     Quality of staff

v)      Training methods/requirements

vi)     Tasks

vii)   Schedules and written procedures

viii)  Job descriptions for employees

ix)     Will you have contract workers?

e)      Inventory

i)        Type of inventory

ii)       Value

iii)     Rate

iv)     Seasonal Buildups

v)      Lead time for ordering

f)       Suppliers

i)        Main suppliers

ii)       Other suppliers?

iii)     Shortage/short-term delivery problems?

iv)     Steady/fluctuating

6)      Management and Organization

a)      Manager

7)      Personal Financial Statement

a)      Each owner should have individual personal financial statement

8)      Startup Expenses and Capitalization

a)      Estimate expenses

b)      Plan where to get capital

c)       Contingencies – account for the unforeseeable

9)      Financial Plan

a)      12 month Profit and Loss Projection

i)        Idea of what it will take to make a profit and be successful

b)      3 year profit projection (optional)

i)        For those who want to carry their forecasts beyond their years

c)       Projected Cash Flow

i)        Plan how much you need, preliminary expenses, operating expenses, and reserves

d)      Opening Day Balance Sheet

i)        Assets & Liabilities

e)      Breakeven Analysis

i)        Operating at a loss VS Operating at a profit

10)   Appendices

a)      Details studies used for business plan

11)   Refining the plan towards type of business

a)      Service Business

i)        Sell intangible products

ii)       Flexible

iii)     High labor costs

iv)     Key competitive factors?

v)      Your prices

vi)     Methods used to set prices

vii)   System of production management

viii)  Quality control procedures

ix)     Measure labor productivity

x)      Percent of work subcontracted to other firms? Will you profit?

xi)     Credit, payment, collection policies and procedures

xii)   Strategy for keeping client base

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