Print Article I just got home from a wonderful Thanksgiving dinner with my mother, sister, brother, niece and nephew in Franklin Park, New Jersey. The roads were slick from an early snow shower that turned to freezing rain. It was a bit fluffy like this one might end up and one of the MTT readers called me on it.
Strategic Analysis with current research! The Music Shop, Inc. The Company was founded by John Doe. The Music Shop will carry a diverse inventory of guitars, violins, cellos, pianos, violas, drums, and other musical instruments.
The Company will advertise both to the general public while concurrently developing relationships with local schools to supply instruments for orchestra and band classes.
The secondary revenue center for the business will come from the sale of music lessons that will be rendered onsite by both trained customer service employees and independent contractors that will come to the Music Shop to render these services to customers.
This is an extremely important revenue center for the business as the contribution margins generated from providing these services is extremely high.
The third section of the business plan will further describe the services offered by the Music Shop.
The interest rate and loan agreement are to be further discussed during negotiation. Doe has more than 10 years of experience in the retail management industry. Through his expertise, he will be able to bring the operations of the business to profitability within free sample music business plans first year of operations.
Doe expects a strong rate of growth at the start of operations. Below are the expected financials over the next three years. Doe intends to implement marketing campaigns that will effectively target individuals and schools with instrument buying needs within the target market.
The Company is registered as a corporation in the State of New York. Below is a breakdown of how these funds will be used: Doe is not seeking an investment from a third party at this time. Doe may seek to sell the business to a third party for a significant earnings multiple.
Most likely, the Company will hire a qualified business broker to sell the business on behalf of the Music Shop. Based on historical numbers, the business could fetch a sales premium of up to 4 times earnings.
Doe anticipates that for each dollar of revenue generated through the sale of musical instruments, the business will earn 60 cents of operating income. The business will use both in-house staff that are properly trained to provide lessons as well as third party independent contractors that will come to the Music Shop to render these services on behalf of the Company.
Currently, the economic market condition in the United States is in recession. This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows.
Many economists expect that this recession will continue until mid, at which point the economy will begin a prolonged recovery period. This trend is expected to continue in the foreseeable future. In this section of the analysis, you should describe the type of customer you are seeking to acquire. In this section, you can also put demographic information about your target market including population size, income demographics, level of education, etc.
The key to writing a strong competitive analysis is that you do your research on the local competition. Find out who your competitors are by searching online directories and searching in your local Yellow Pages. Below is an overview of the marketing strategies and objectives of the Company.
Doe intends on using a number of marketing strategies that will allow the Music Shop to easily target individuals and families with children within the target market. These strategies include traditional print advertisements and ads placed on search engines on the Internet.
Below is a description of how the business intends to market its services to the general public. The Music Shop will also use an internet based strategy. This is very important as many people seeking local retailers, such as music shops and independent music teachers, now the Internet to conduct their preliminary searches.
Doe will register the Music Shop with online portals so that potential customers can easily reach the business. The Company will also develop its own online website showcasing the Music Shop, its inventories, its ability to provide musical lessons, and relevant contact information.
Doe intends to maintain strong connections with local music teachers and schools that will purchase bulk inventories of musical instruments. Once these relationships are solidified, the Company will be able to generate a substantial amount of business through these connections.
Additionally, music teachers may also refer local students to the Company for additional lessons and tutelage. You should provide as much information as possible about your pricing as possible in this section. However, if you have hundreds of items, condense your product list categorically.
This section of the business plan should not span more than 1 page. For each owner or key employee, you should provide a brief biography in this section.Kevin, I'm glad the topic of music business plans has come up, because I've been trying to wrap my head around them for a while.
After reading over your post and the provided documents, I'm still very skeptical about their practicality. Sample Proposal Template in MS Word to Print.
Download Easy to Edit Job Proposal Template. Download Bid Proposal Template in iPages. Download Cleaning Proposal Template in Google Docs. This article is a comprehensive list of over free sample business plan templates that give an easy start to aspiring African entrepreneurs and small businesses.
This article is a comprehensive list of over free sample business plan templates that give an easy start to aspiring African entrepreneurs and small businesses. First, combine your knowledge with a good business plan.
Start by looking at these sample business plans for retail music businesses. Then get started writing a business plan for your own business. These, and hundreds more sample business plans, are included in LivePlan. It's the fastest way to create a business plan for your business.
A business plan for a service business is different than a plan for other types of businesses. That's why a sample business plan for an accountant, insurance agent, self storage business, cleaning service, dry cleaning, travel agent or other service business will be so helpful.