You need semi-skilled employees capable of sizing, customizing, and repairing bikes. Our primary strategy is to develop Blue Mountain Cycle Rentals as the most convenient and cost-effective rental alternative for the thousands of visitors who flock to the area each year.
Our location is also a key disadvantage where non-park rentals are concerned. What ranks high in terms of importance? Where will I fail to solve a customer problem More in this series: While the outdoor tourism industry as a whole is flat, the park expects its number of visitors to grow over the next few years.
If your concept is too fuzzy, too broad, or too complicated, go back and start again. Even though you may be creating a business plan solely for your own purposes, at some point you may decide to seek financing or to bring on other investors, so make sure your Summary meets their needs as well.
Make the rest of the process easy. Consider our bicycle business plan executive summary definition objectives business example. So where do you start?
If your business will manufacture or sell products, or provide a variety of services, then be sure to include a Products and Services section in your Summary. If you open a restaurant, what you plan to serve will in some ways determine your labor needs, the location you choose, the equipment you need to purchase Your Summary describes the highlights of your plan, includes only the most critical points, and leaves out less important issues and factors.
Who is my average customer? Financial Projections Blue Mountain Cycle Rentals expects to earn a modest profit by year two based on projected sales.
Once underway we will expand our scope and take advantage of high-margin new equipment sales and leverage our existing labor force to sell and service those products. The Executive Summary is often the make-or-break section of your business plan.
Also keep in mind this example focused on the rental business, so a description of products was not included. Focus on the basics first: Successful businesses create customer value by solving problems. You will of course need a certain quantity of bikes to service demand, but you will not need a number of different types of bikes.
More from this series: Explain the problem you solve. Show how you will solve that problem.
The following is how an Executive Summary for a bicycle rental store might read. Because of his extensive industry contacts, initial equipment inventory will be purchased at significant discounts from OEM suppliers as well by sourcing excess inventory from shops around the country.
So think of it as a snapshot of your business plan. Acquiring the right location? What you will provide What you need to run your business Who will service your customers, and Who your customers are In our example, defining the above is fairly simple.
Once your Summary is complete, you can use it as an outline for the rest of your plan. Due to the somewhat seasonal nature of the business, part-time employees will be hired to handle spikes in demand.Phoebe's Photo Studio photography studio business plan executive summary.
Phoebe's Photo Studio will use digital photography, reminder calls, and new baby tracking to garner a significant portion of the local market for family photos/5(65). The third in a comprehensive series to help you craft the perfect business plan for your startup.
a Great Business Plan: Overview and Objectives. a Great Business Plan: the Executive Summary. Resist the temptation to pad your business plan’s executive summary with details (or pleas).
The job of the executive summary is to present the facts and entice your reader to read the rest of the business plan, not tell him everything. The Executive Summary is often the make-or-break section of your business plan.
A great business solves customer problems; if your Summary cannot clearly describe, in one or two pages, how your business will solve a particular problem and make a profit, then it's very possible the opportunity does not exist--or your plan to take advantage of.
So the executive summary, or statement of purpose, should succinctly encapsulate your reason for writing the business plan.
It needs to. and, the business opportunity, as well as how you plan to achieve your objectives. The business plan is the product, but the planning process is more important.
Planning, tracking, reviewing and setting goals, and executing on the plan, are the Building Block 2 – The Business Plan and Executive Summary.Download