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What is the market share percentage and number of customers you expect to obtain in a defined geographic area

What is the market share percentage and number of customers you expect to obtain in a defined geographic area
Business Plan[Your Name], OwnerPurdue GlobalBUSINESS PLAN
Date

EXECUTIVE SUMMARY1.1 Product1.2 Customers1.3 What Drives Us
COMPANY DESCRIPTION2.1 Mission and Vision Statements2.2 Principal Members at Startup (In Unit 7 you will expand on this section to include medium and long term personnel plans for all team members, including the line staff.)

2.2.1 Using chapter 10 of your text, write the plan, using the section in Chapter 10 that shows how to introduce each team member and describe their background and responsibilities. You will start with the leaders and managers, then discuss other employees as needed for your company to grow.
2.2.2 Use this spreadsheet to show the planning
Leaders/managers (unit 1)
When needed (number of months/years after opening)
Outside Services Needed
Key Functions
Add line staff (Unit 7)
2.3 Legal Structure

MARKET RESEARCH3.1 Industry ( from SBA , Business Guides by Industry, and Bureau of Labor Statistics )

3.1.1 Industry description
3.2.1 Resources used
3.2 Customers (from SBA site fill in worksheet, then use text for spreadsheets and follow-up explanations)
Add SBA part here:
Then, fill in spreadsheet using this example from the text:
Housewife:
Married Couple:
Age:
35–65
Age:
35–55
Income:
Fixed
Income:
Medium to high
Sex:
Female
Sex:
Male or Female
Family:
Children living at home
Family:
0 to 2 children
Geographic:
Suburban
Geographic:
Suburban
Occupation:
Housewife
Occupation:
Varies
Attitude:
Security minded
Attitude:
Security minded, energy conscious
Older Couple:
Elderly:
Age:
55–75
Age:
70+
Income:
High or fixed
Income:
Fixed
Sex:
Male or Female
Sex:
Male or Female
Family:
Empty nest
Family:
Empty nest
Geographic:
Suburban
Geographic:
Suburban
Occupation:
White-collar or retired
Occupation:
Retired
Attitude:
Security minded, energy conscious
Attitude:
Security minded, energy conscious
Explain who you are targeting and where they are located. Insert information here using these guidelines:
Information About Your Target Market – Narrow your target market to a manageable size. Many businesses make the mistake of trying to appeal to too many target markets. Research and include the following information about your market:
Distinguishing characteristics – What are the critical needs of your potential customers? Are those needs being met? What are the demographics of the group and where are they located? Are there any seasonal or cyclical purchasing trends that may impact your business?
Size of the primary target market – In addition to the size of your market, what data can you include about the annual purchases your market makes in your industry? What is the forecasted market growth for this group? For more information, see the market research guide for tips and free government resources that can help you build a market profile.
How much market share can you gain? – What is the market share percentage and number of customers you expect to obtain in a defined geographic area? Explain the logic behind your calculation.
3.3 Competitors (from SBA site fill in worksheet, then use text for spreadsheets and follow-up explanation)
Then:
Fill in spreadsheet using this example from the text:
Estimated Market Share
Competition 60%
Home Improvements Inc. 30%
Product Line
4
5
Quality
4
5
Technology
4
5
Advertising
2
5
Sales Force
3
5
Distribution
3
4
Price
4
4
Installation
4
5
Ease of Use
4
5
Appearance
3
5
Design
4
5
Useful Life
4
4
Responsiveness
3
5
Availability
1
5
Technical Expertise
4
5
Repair Service
3
5
Efficiency
3
5
Guarantee/Warranty
5
5
On Time Capability
4
5
Industry Reputation
3
5
Write an explanation of your findings using information from the spreadsheet using these guidelines:
· Market share
· Strengths and weaknesses
· How important is your target market to your competitors?
· Are there any barriers that may hinder you as you enter the market?
· What is your window of opportunity to enter the market?
· Are there any indirect or secondary competitors who may impact your success?
· What barriers to market are there (e.g., changing technology, high investment cost, lack of quality personnel)?
3.4 Competitive AdvantageRead: Sustainable competitive advantage or temporary competitive advantage: Improving understanding of an important strategy construct.
3.5 Regulation (use SBA site to fill in blanks, and use SBA regulations as a resource)

PRODUCT/SERVICE LINE4.1 Product or Service

4.2 Pricing Structure4.3 Product/Service Life Cycle4.4 Intellectual Property Rights4.5 Research & Development

MARKETING and SALES5.1 Growth Strategy

· A market penetration strategy.
· A growth strategy. This strategy for building your business might include: an internal strategy such as how to increase your human resources, an acquisition strategy such as buying another business, a franchise strategy for branching out, a horizontal strategy where you would provide the same type of products to different users, or a vertical strategy where you would continue providing the same products but would offer them at different levels of the distribution chain.
· Channels of distribution strategy. Choices for distribution channels could include original equipment manufacturers (OEMs), an internal sales force, distributors, or retailers.
· Communication strategy. How are you going to reach your customers? Usually a combination of the following tactics works the best: promotions, advertising, public relations, personal selling, and printed materials such as brochures, catalogs, flyers, etc.
After you have developed a comprehensive marketing strategy, you can then define your sales strategy. This covers how you plan to actually sell your product.
5.2 Your overall sales strategy should include two primary elements:
· A sales force strategy. If you are going to have a sales force, do you plan to use internal or independent representatives? How many salespeople will you recruit for your sales force? What type of recruitment strategies will you use? How will you train your sales force? What about compensation for your sales force?
· Your sales activities. When you are defining your sales strategy, it is important that you break it down into activities. For instance, you need to identify your prospects. Once you have made a list of your prospects, you need to prioritize the contacts, selecting the leads with the highest potential to buy first. Next, identify the number of sales calls you will make over a certain period of time. From there, you need to determine the average number of sales calls you will need to make per sale, the average dollar size per sale, and the average dollar size per vendor.
5.3 Communication Strategy5.3.1 Internet Strategy (from the text)
5.3.1 Tracking ROI form website
5.3.2 Discuss how you will assure ethical practices are being used in your marketing and selling.

FINANCIAL PROJECTIONS6.1 Profit & Loss6.1 Profit & LossYear 1

Year 2
Year 3
Sales
Costs/Goods Sold
GROSS PROFIT
OPERATING EXPENSES
Salary (Office & Overhead)
Payroll (taxes, etc.)
Outside Services
Supplies (Office & Operation)
Repairs & Maintenance
Advertising
Car, Delivery & Travel
Accounting & Legal
Rent
Telephone
Utilities
Insurance
Taxes (Real Estate, etc.)
Interest
Depreciation
Other Expenses
TOTAL EXPENSES
NET PROFIT BEFORE TAXES
Year 1
Year 2
Year 3
Income Taxes
NET PROFIT AFTER TAX
Owner Draw/Dividends
ADJUSTED TO RETAINED
6.2 Cash Flow Complete section 6.3 of your business plan outlineCash Flow
Pre-Startup
ESTIMATE
Year 1
Year 2
Year 3
Cash on Hand
CASH RECEIPTS
Cash Sales
Collections from CR Accounts
Loan/Cash Injection
TOTAL CASH RECEIPTS
TOTAL CASH AVAILABLE
CASH PAID OUT
Purchases
Gross Wages
Outside Services
Supplies
Repairs & Maintenance
Advertising
Car, Delivery & Travel
Accounting & Legal
Rent
Telephone
Utilities
Insurance
Taxes (Real Estate, etc.)
Interest
Other Expenses
SUBTOTAL
Loan Principal Payment
Capital Purchase
Other Startup Costs
Reserve and/or Escrow
Others Withdrawal
TOTAL CASH PAID OUT
CASH POSITION
6.3 Balance SheetAssets
Start Date:
End Date:
CURRENT ASSETS
Cash in Bank
Accounts Receivable
Inventory
Prepaid Expenses
Other Current Assets
TOTAL CURRENT ASSETS
FIXED ASSETS
Machinery & Equipment
Furniture & Fixtures
Leaseholder Improvements
Land & Buildings
Other Fixed Assets
TOTAL FIXED ASSETS
(net of depreciation)
OTHER ASSETS
Intangibles
Deposits
Other
TOTAL OTHER ASSETS
TOTAL ASSETS
Liabilities & Equity
Start Date
End Date
CURRENT LIABILITIES
Accounts Payable
Interest Payable
Taxes Payable
Notes, Short Term (due in 12 months)
Current Part, Long-Term Debt
TOTAL CURRENT LIABILITIES
LONG TERM DEBT
Bank Loans Payable
Notes Payable to Stockholders
LESS: Short-Term Portion
Other Long-Term Debt
TOTAL LONG-TERM DEBT
TOTAL LIABILITIES
OWNER’S EQUITY
Invested Capital
Retained Earnings
TOTAL OWNERS EQUITY
TOTAL LIABILITIES & EQUITY
6.4 Break-Even AnalysisDIRECT COSTS
Fixed Costs ($)
Variable Costs (%)
Cost of Goods Sold
Inventory
Raw Materials
Direct Labor
INDIRECT COSTS
Salaries
Supplies
Repairs & Maintenance
Advertising
Car, Delivery & Travel
Rent
Telephone
Utilities
Insurance
Taxes
Interest
Depreciation
Other Costs
Total Fixed Costs
Total Variable Costs
BREAK-EVEN SALES LEVEL:
6.5 Financial Assumptions
6.5.1 Assumptions for Profit and Loss Projections
6.5.2 Assumptions for Cash Flow Analysis
6.5.3 Assumptions for Balance Sheet6.5.4 Assumptions for Break-Even Analysi
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