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A look at small retail business plans

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Every person who is thinking about opening up their own business needs to have a business plan.They are essential for many reasons.And they have to be perfect.They are the basis of a company.But what exactly are they and what needs to be included in them?Let's take a look at small retail business plans to find out.

A small business plan is basically a large document that states the plans for the business.
It gives information about what the person wants to do, the products or services he is providing, and pretty much everything else about the business.


Business plans are essential for people trying to get a loan for a business.
The bank or lender wants to see the plan laid out for them, including a plan for payback of the loan.When you go ask for money from a lender, they will only give it to you if you know what you are doing and have a strict plan for doing it.Without it you won't get a loan.

Business plans should include several things in them.
First they need to have a summary.It is usually known as an executive summary.It is a summary of everything included in the plan and the main points, like this is what I am going to sell.The executive summary needs to have something that will get the lender's, or other person who you are presenting this to, attention.They need to want to learn more about your product.

Next you will want to have a business analysis.You need to write in detail what you are going to be selling.You need to include the name of the business and where it is going to be located.Go into great detail about the business in general, without being too technical.

Next you need to include a marketing strategy.You need to show how you will be showing the company.How it is going to appeal to the average person and stand out from the genre of stores that are already in place.You need to show also the prices you want to have for the products.In this section you need to show your advertising tactics and things that you are going to do to stand out and attract customers.You also need to include research that you have done on your products to show how they sell and appeal to customers.

The next section is products and services.
You need to include what you are going to be selling and any vendors that you will be using.You need to show them also your plans for growth and new products.

Next is the management plan.You need to show that you have the right amount of help and the right people to help you.You need to show that your employees are top of the line and will really work hard to make the business successful.

The last part if the financial plan.You need to include how much money you need and budgets for the next few years.You also need to include a way of paying the lender back.

Remember to make things simple.Not everyone is going to be an expert on computers so if you are opening a computer shop, don't include technical terms.It will be a turn off for the lenders.Don't baby them either, but don't make it so hard they really get confused.They won't understand what you are talking about and won't waste time trying to figure it out.They will just deny your loan request.Also, there are many business development centers that offer free or little cost help to people starting up or expanding a business.Have them check out your business plan before you present it and let you know what they think about it.

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