We understand that some of the processes attached to starting a business can be cumbersome and require a lot of mental exercises. Some of which include writing a plan, doing visibility studies, and looking for ways to attract investors. These tasks, ordinarily, discourage prospective entrepreneurs from taking the bold step. This is why we thought to give a helping hand by providing a small business plan sample.
As a point of reference, a business plan is a document that contains everything about your business, such as the product and the services, how to carry out the task, the target audience, and other important information needed to embark on a stress-free business journey. In writing a business plan, the first step you need to take is to streamline your idea into a viable concept. Before committing significant resources, it is essential to learn how to validate your business idea before investing. After that, you take a look at the business plan template and then follow the small business plan sample below.
Business Plan Sample for Businesses
Executive Summary
The executive summary is the overview of a business. It is usually not more than 1-2 pages, and it is the first thing anyone will notice. You have to be articulate in this section so you can convince your intended readers and investors. In this section, you are expected to provide the mission statement of the organization, the name, the founders, and the products and services you seek to render. A very good example includes
Executive Summary for the Queen Fashion
The Queen fashion is an industry seeking to promote the fashion sense of Nigerians. It will also be a place where every family holding a party comes in to pick fabric for their members, friends, and crew. The brand is more focused on brides looking for beautiful white dresses to wear for their occasion and grooms aiming to look astonishing for their bride.
It is located in Admiralty Circle, Lekki, Nigeria, and it catches the interest of party attendees and organizers. It aims to build a strong market position on the island and to save people the stress of visiting the market on countless occasions and facing unnecessary stress because of their party.
Mission
At The Queen Fashion, our mission is to promote the industry with stylish creations of fabrics and wears of high quality both for weddings and every kind of occasion. To also ensure that our services make our customers more relaxed and comfortable while shopping.
We aim to be a stop center for anyone who plans to throw a party, whether a wedding, birthday, burial, child dedication, etc. Our team will ensure that people, i.e., both male and female, young or old, can trust us with doing justice to their preference of style and to have an inviting work environment for our employees to promote productivity.
The objective
The Queen Fashion has the following objectives:
- To be a stop center for people who want to change their wardrobe and for people who have occasions to plan or attend.
- To have customers’ preference for our brand starting from the first month of our business.
- To constantly increase our sales on a monthly basis.
To achieve all these, we must build our brand to be what every customer wants to be a part of.
The company and management
The Queen Fashion is headquartered in Lekki, Lagos, with plans of establishing other branches in Ikeja, Lagos, and other states in Nigeria and subsequently across Africa. The company was founded by Mary Queen, and she will take on the position of CEO. In addition, we have a board of directors to provide management expertise, and they include:
- Jerry King, Business Consultant at Jerrycafe Choice Ltd.
- Michael Temmy at Mac Tee Accounting
- Tosin Gold, Partner at Gold and sons Law Firm
Our services
Our customers are ladies, men, and women who crave beautiful dresses, quality fabrics, classic wear, and stylish blazers. The Queen fashion offers a wide variety of fabric sales, dresses, suits, trousers, shirts, skirts, etc. Basically, it will include:
- Wedding gowns
- Suit
- Corporate and native wear
- Ankara dresses
- Lace Material
- Website for Display of goods and customer ordering
- 12-hour services everyday
Business Description
This section presents vital information about the business, such as an overview of the business, its location, ownership, and history, if there is any.
The Queen Fashion is a wholesale boutique for every individual who wishes to buy any kind of fabric or corporate wear for the office, wedding, or any kind of occasion. Our goal is to be a one-stop center for every clothing item and to give our customers a stress-free shopping experience. Our products include wedding dresses, suits, shirts, skirts, trousers, Ankara, lace, aso-oke, Kampala, Adire, Head gears, veils, caps, etc.
It is a new stall planning to begin operations on the 1st of August 2019 in a space leased for the period of 5 years at No. 4, Admiralty Circle, Lekki, Nigeria.
The Queen Fashion is a private company owned by Mary Queen with 3 Board of Trustees members. It is registered in Lagos, Nigeria.
Market Analysis and Strategies
Analyzing the market you hope to play in gives you an understanding of what the competition is doing. This will inform you on the opportunities available and how to leverage them.
One of the things we noticed in buyers is that the majority of them like to compare prices and quality from different shops before they eventually settle for one.
Therefore, The Queen Fashion will not just be a showroom but a stop center for everyone having special occasions to celebrate. We will make the environment welcoming. Our prices will be the best based on our quality so that customers are satisfied.
We will also distinguish ourselves from our competitors by creating a website where people can order different styles of fabric and clothes, and they will be delivered to their doorstep.
Organizational Management
This section provides information on how the structure of an organization would look.
The workforce for The Queen Fashion will include the founder as the business manager. It will also include a warehouse manager, an accountant, a fashion stylist, and other ad hoc staff who will help in the smooth running of the business.
The business manager will coordinate the affairs of the business and ensure that every member of staff carries out their responsibilities in such a way that more customers can be attracted.
The warehouse manager will be in charge of the shop. Taking into account what comes in and goes out, while providing feedback on changes in customers’ demand and preferences.
The accountant takes an account of the income and expenses of the entire business and reports to the business manager.
In The Queen Fashion, an international stylist will be on the ground to sew dresses for people. Mostly brides who are interested in having their dresses all packaged by the brand.
Ad hoc staff such as cleaners, security, and office managers will be employed to make the business environment clean, secure, and accessible.
Operations or Product Line
This section of the business plan sample has to do with operations and the kind of business you seek to operate in.
The Queen Fashion will deal in different kinds of fabric that can suit anyone from any tribe in Nigeria. It will also deal in materials that go for all kinds of occasions. Our products are going to be budget-friendly for different classes of people.
The shop will open from 9 am to 9 pm on Mondays to Saturdays of every week and on public holidays as well. We made the arrangement to incorporate office workers who might not have the time to shop during weekdays.
Financial Projections
This will encompass anything relating to finance in the business. It involves the expenses, and it should be thoroughly scrutinized. For example,
We multiplied the total financial projections in a year by 5% for the first year, 7% for the second, and 10% and 15% for the fourth and fifth years, respectively, to get the income statement.
Our financials are in Naira, and the costs were all researched and averaged. The Queen Fashion budget is 9,216,000 for capital costs.
Conclusion
A well-structured business plan is the foundational blueprint for any small business. It transforms a simple idea into a clear, actionable strategy for success and serves as a vital roadmap for founders. It guides operational decisions, attracts necessary investment, and ensures the business remains focused on its core mission and objectives.
As you plan your business’s growth and financial future, protecting your brand assets is paramount. This involves understanding the difference between trademark and copyright, knowing how to register a company trademark, and being prepared for actions to take if someone infringes on your IP.
Leave a Reply