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Strategy and Implementation Summary
What is your general approach to make your business a success and how will you achieve this?
Craft Store Marketing Strategy
What are the genuine ways you are going to employ in order to promote your Craft Store business to your present and likely customers. You can as well add the costs involved in doing this and strategies involved in reducing your marketing outlay and how your marketing strategy can seek out your patrons better. For example if you are using PPC as a method to target Craft Store clients you may use long tail keyword search phrases rather than short generic words. This should condense your Pay Per Click costs as well as laser targeting your clients; though it will of course take longer to set up. Read more about marketing strategy.
Craft Store Pricing Strategy
How did you work out your price points products and services? Are you going to use cost-plus pricing, limit pricing, loss leaders, market-oriented pricing, penetration pricing, price discrimination, premium pricing, predatory pricing, contribution margin-based pricing, psychological pricing, dynamic pricing, target pricing, absorption pricing, high-low pricing, marginal-cost pricing, odd pricing, freemium or pay what you want pricing?
Check out this article on pricing up your products
Promotion Strategy
What promotion strategies are you going to put into service to get the word out regarding your services and products to your potential customers - are you going to do media releases, run events, networking, sales pitches, follow-ups, have promotional products?
Business Competitive Edge
Do you have some benefits above your opposition that you can exploit to your benefit? Are you able to keep your overheads lower than your competitors so that you are always the cheapest? Do you have a premier site? Are you the pioneer or the only one to provide a product or service? Are you capable of staying ahead of the opposition and if so what enables you to do this? Do you have a good make, trademarks, patents or a licence?
Web Strategy
Are you going to have no website whatever or an all singing and dancing website with bells and whistles on? In most case it's going to be something in-between these two, and you ought to deliberate long and hard where your business is going to position itself. You can pay a visit to this website and get more information concerning putting your Craft Store business online.
Sales Strategy
How are you going to get sales for your Craft Store business in the first place and how are you going to expand or maintain sales as time goes on? How much are your sales going to cost you? Make certain you know what questions to ask of your possible customers and know the answers to likely questions they will ask you. How are you going to foster an affiliation with your patrons to get yet to come sales from them? How are you going to observe your sales? Do you want to increase your sales?
Formulating a good business proposal will increase your chances of getting a sale. Use this sample Craft Store business proposal to assist you.
Management Summary
Management Team
Who are the most important players in your business?
Craft Store Organizational Structure
What is the structure of your company - who is in charge of every division inside your business?
Personnel Plan
This ought to be a list of everyone in your company, their pay and what if any share options they have for now and in the future. You can also add what type of contracts they have, short and long term and whether that is likely to change in the future or not.
Craft Store Financial Plan
Will you supply all your own funding or will it be a blend of your money, bank loans, or angel investors? Do you need help in writing your financial plan?
Craft Store Break Even Analysis
How long will it take to get your investments back in terms of capital outlay by means of sales of your services and products. You ought to represent this in a graphical format. You can obtain free breakeven analysis including a spreadsheet and simple examples.
Craft Store Profit and Loss
You can embody this usually in the form of a monthly and yearly bar chart as well as tables. Clearly these should be revised as your business goes along on a monthly basis. You can obtain a free profit and loss spreadsheet to assist you.
Craft Store Cash Flow
You ought to have tables and charts to demonstrate your cash balance and your net cash flow. Download a free cash flowspreadheet.
Appendix
This should comprise all your central info which makes your business tick. This ought to be your business financials - so all your tables of numbers, tax returns, inventory estimates and personal and business credit history information. The information in the appendix is highly confidential and ought to only be given to would-be investors.
Exit Strategy
How exactly are you going to sell your Craft Store Business?
Craft Store Business Plan Page 1 | Craft Store Business Plan Page 2
Useful Craft Store Resources
Craft Store Marketing Plan | Craft Store Equipment | Craft Store Online
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