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 its 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.Free Music Shop Business Plan For Raising Capital from Investors, Banks, or Grant Companies!
Please note that the financials in this complete free business plan are completely fictitious and may not match the text of the business plan below. Retail Business Plan Sample. plombier-nemours.com The Retail Business Plan template has an in detail study of the market history and current need of the customers.
Understanding these concepts properly will help in formulating an effective business plan. Free Download. Below is a sample music store business plan that will help you successfully write yours with little or no stress; Industry Overview Operators in the Music Stores industry primarily retail prerecorded music in soft and hard copies as audio and videotapes, compact discs (CDs), digital video discs (DVDs) and phonograph records.
Sample Business Plan General Business planning guide created by the Canadian Business Service Center. Business Plans Index – A subject guide to sample business plans and profiles for specific business types from Carnegie Library of Pittsburgh.
Mojo Music specializes in the sale of used music CDs, movie DVD rentals, and sale of blank CD/DVD recording media. Edit this music retail business plan business plan to fit your business.
Here's what to include in your retail business plan, from the executive summary that details your operation to the specifics of your financial plan.