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Strategy and Implementation Summary
What is your general approach to make your business a success and how will you realize this?
Karaoke Bar Marketing Strategy
What are the concrete ways you are going to employ in order to promote your Karaoke Bar business to your present and potential clients. You can moreover add the costs involved in doing this and strategies involved in lowering your marketing outlay and how your marketing strategy can seek out your clients better. For instance if you are using Pay Per Click as a way to go for Karaoke Bar clients you may employ long tail keyword search phrases considerably than short generic words. This ought to diminish your Pay Per Click outlay as well as laser targeting your patrons; though it will of course take longer to set up. Read more about marketing strategy.
Karaoke Bar Pricing Strategy
What line of attack did you use to get your selling prices for your 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 instigate to get the word out about your products and services to your possible customers - are you going to do media releases, hold events, networking, sales pitches, follow-ups, have promotional products?
Business Competitive Edge
Do you have some advantage above your opposition that you can exploit to your gain? Are you able to keep your expenditure lower than your competition so that you are continually the cheapest? Do you have a first-class site? Are you the original or the only one to provide a service or product? Are you able to stay ahead of the opposition and if so what enables you to do this? Do you have a good identifying mark, trademarks, patents or a licence?
Web Strategy
Are you going to have no website whatsoever or an all singing and dancing website with bells and whistles on? In most scenarios it's going to be something in-between these two, and you ought to reason long and hard where your business is going to position itself. You can visit this website and get more info about putting your Karaoke Bar business online.
Sales Strategy
How are you going to get sales for your Karaoke Bar business in the first place and how are you going to build up or maintain sales as time goes on? How much are your sales going to cost you? Make definite you know what questions to ask of your likely customers and know the answers to likely questions they will ask you. How are you going to encourage a rapport with your patrons to get yet to come sales from them? How are you going to scrutinize 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 Karaoke Bar business proposal to assist you.
Management Summary
Management Team
Who are the major protagonists in your business?
Karaoke Bar Organizational Structure
What is the structure of your business - who is the manager of each division within your business?
Personnel Plan
This ought to be a register of each person in your company, their remuneration 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 liable to change in the future or not.
Karaoke Bar Financial Plan
Will you supply all your own funding or will it be a combination of your capital, bank loans, or angel investors? Do you need help in writing your financial plan?
Karaoke Bar 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 graphical form. You can obtain free breakeven analysis including a spreadsheet and simple examples.
Karaoke Bar Profit and Loss
You can denote this usually in the form of a monthly and yearly bar chart as well as tables. Obviously these ought to be revised as your business goes along on a monthly base. You can obtain a free profit and loss spreadsheet to assist you.
Karaoke Bar Cash Flow
You ought to have charts and tables to explain your cash balance and your net cash flow. Download a free cash flowspreadheet.
Appendix
This ought to add in all your critical information which makes your business tick. This should 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 likely investors.
Exit Strategy
How exactly are you going to sell your Karaoke Bar Business?
Karaoke Bar Business Plan Page 1 | Karaoke Bar Business Plan Page 2
Useful Karaoke Bar Resources
Karaoke Bar Marketing Plan | Karaoke Bar Equipment | Karaoke Bar Online
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