Small Business Start-Up Kit - Page 10

Business Plan The Market and Your Promotion • Identify your customer. • Identify the customer demand for your product/service. • Identify your market, its size and locations. • Is your market seasonal? • How would you characterize your markets? (Growing, steady, declining?) • Is this a competitive market? • How can you expand your market? • Explain how you are prepared to handle sudden growth and declines? • Explain how your product/service will be advertised and marketed. • Explain the pricing strategy. • Explain your competition. • How will consumers differentiate you from your competition? • What are their strengths and weaknesses? • Why would people buy from you? • How much would your customers be willing/able to spend with you? • How often would people buy from you? • What is your plan for attracting additional customers? • How will you reach your customers? • Will you be using technology? • What is your advertising schedule? Location • Where are you located? • What are the physical features of your building? • Do you lease or own space? • Do you anticipate renovations and what are the associated costs? • Does zoning in your area permit this kind of business? • What are the businesses surrounding you? • Why did you pick this site? Operations • Explain how the business will be managed on a day-to-day basis. • Discuss hiring and personnel procedures. • Discuss insurance, lease or rent agreements, and issues pertinent to your business • Account for the equipment necessary to produce your products or services. • Account for production and delivery of products and services. Management • Who is the management of the business? • Explain personal histories of principals. • Explain your business background. Greater Area Tomah Chamber of Commerce Page |10