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Retail Business Plan Template
Written by Dave Lavinsky
Retail Business Plan
You’ve come to the right place to create your retail business plan.
We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their retail companies.
Retail Business Plan Template & Sample
Below is a retail business plan template to help you create each section of your retail store business plan.
Executive Summary
Business overview.
Artisan Home & Decor is a startup retail shop located in Pasadena, California. The company is founded by Joyce Hernandez, a retailer who has worked as a store manager of a local home decor store for nearly a decade. Joyce has recently graduated from California University with a Bachelor’s degree in Business Management. Now that she has gained real-world experience managing a store and the education on how to run a retail business, she is inspired to start her own company, Artisan Home & Decor. Joyce is confident that her ability to effectively manage employees, customer relationships, and retail operations will help her establish a profitable retail store. Joyce plans on recruiting a team of highly qualified sales associates, accountants, and buyers to help manage the day to day complexities of retail – marketing, sales, budgeting, sourcing, and purchasing.
Artisan Home & Decor will provide uniquely curated home decor products created by local artisans. The home decor shop will be the ultimate choice for customers in Pasadena who value one-of-a-kind pieces for their homes. Artisan Home & Decor will provide its customers with a refreshingly personalized shopping experience they can’t get anywhere else. The shop’s sales associates will be able to help customers find the perfect pieces to suit their individual preferences and styles.
Product Offering
The following are the products that Artisan Home & Decor will provide:
- Lamps & Lighting
- Throw Blankets
- Photo Frames
- Cookware Sets
- Kitchen Gadgets
- Kitchen and Bathroom Fixtures
- Waste Baskets
- Soap Dispensers
Customer Focus
Artisan Home & Decor will target home decor shoppers looking for a personalized experience and unique pieces in Pasadena. The company will target boomer, millennial, and gen z consumers looking for unique decor for their homes, apartments, or condos. They will also target businesses looking for special pieces to furnish their corporate offices, waiting rooms, and lobbies. No matter the client, Artisan Home & Decor will deliver the best communication, service, and high quality products.
Management Team
Artisan Home & Decor will be owned and operated by Joyce Hernandez, a retailer who has worked as a store manager of a local home decor store for nearly a decade. Joyce has recently graduated from California University with a Bachelor’s degree in Business Management. Now that she has gained real-world experience managing retail stores and the education on how to run a retail business, she is inspired to start her own company, Artisan Home & Decor.
Joyce Hernandez has recruited her former assistant manager, Melissa Jacobs to come on board to help her manage Artisan Home & Decor. While Joyce will oversee the employees, day-to-day operations, and client relationships, Melissa will be the Inventory Manager. She will be in charge of sourcing, purchasing, and pricing all inventory. Melissa will work directly with suppliers to stock the retail shop with unique artisan pieces.
Melissa is a graduate of the University of California with a Bachelor’s degree in Interior Design. She has been working at a local retail home decor company for over a decade as an assistant manager. Melissa has an eye for design and keen organizational skills that will allow her to effectively manage Artisan Home & Decor’s one-of-a-kind inventory. Her communication skills will enable her to establish and maintain working relationships with artisans and suppliers.
Success Factors
Artisan Home & Decor will be able to achieve success by offering the following competitive advantages:
- Friendly, knowledgeable, and highly qualified team of sales associates and interior design experts that are able to provide a personalized customer experience and help each client find the right home decor pieces to suit their preferences.
- Artisan Home & Decor will bring fresh inventory into their retail store on a regular basis so there will always be something new for customers to check out. In addition to in-store sales, the company will sell pieces online through its website.
- Artisan Home & Decor offers one-of-kind pieces created by local artisans to suit a wide variety of home decor styles and tastes. By purchasing from the shop, customers are supporting these local artisans and getting fresh decor that no one else will have.
Financial Highlights
Artisan Home & Decor is seeking $210,000 in debt financing to launch its retail business. The funding will be dedicated towards securing and building out the retail space and purchasing the initial inventory. Funds will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and marketing costs for print ads, website and SEO marketing initiatives, and association memberships. The breakout of the funding is below:
- Retail space build-out: $25,000
- Retail store shelving, displays, equipment, supplies, and materials: $40,000
- Three months of overhead expenses (payroll, rent, utilities): $120,000
- Marketing costs: $15,000
- Working capital: $10,000
The following graph below outlines the pro forma financial projections for Artisan Home & Decor.
![retail shop business plan example financial projection sample for retail business](https://planbuildr.com/wp-content/uploads/2022/07/retail-740x493.png)
Company Overview
Who is artisan home & decor.
Artisan Home & Decor is a newly established retail company in Pasadena, California. The new home decor shop will be the ultimate choice for people looking for uniquely curated one-of-a-kind furniture and other home products crafted by local artisans. Artisan Home & Decor will provide its customers with a refreshingly personalized shopping experience they can’t get anywhere else. The shop’s sales associates and experienced interior designers will be able to help customers find the right pieces to suit their preferences and styles.
Artisan Home & Decor will be able to provide a personalized shopping experience for serving customers in-store and online. The team of professionals and sales associates are highly qualified and experienced in interior design, home decor, and the customer experience. Artisan Home & Decor removes all headaches and issues of the home decor shopper and ensures all issues are taken care off expeditiously while delivering the best customer service.
Artisan Home & Decor History
Artisan Home & Decor is owned and operated by Joyce Hernandez, a retailer who has worked as a store manager of a local home decor store for nearly a decade. Joyce has recently graduated from California University with a Bachelor’s degree in Business Management. Now that she has gained real-world experience managing retail stores and the education on how to run a retail business, she is ready to start her own company. Joyce is confident that her ability to effectively manage employees, customer relationships, and retail operations will help her establish a profitable retail store. Joyce has begun recruiting a team of highly qualified sales associates, accountants, and buyers to help manage the day to day complexities of retail – marketing, sales, budgeting, sourcing, and purchasing.
Since incorporation, Artisan Home & Decor has achieved the following milestones:
- Registered Artisan Home & Decor, LLC to transact business in the state of California.
- Has a contract in place to lease the retail space.
- Reached out to numerous local artisans to advise them on the upcoming retail shop in order to start getting supplier contracts.
- Began recruiting a staff of sales associates, interior designers, an accountant/bookkeeper, marketing director, and assistant manager to work at Artisan Home & Decor.
Artisan Home & Decor Services
Industry analysis.
The retail industry in the United States is valued at over $4T currently and is forecasted to reach $4.9T by the end of 2022. This is up from $3.8T in 2019. After a decade of retail decline between 2010 and 2020, the market is rebounding at a surprising rate. There were twice as many store openings as closings in 2021 alone. The number of brick-and-mortar retail establishments is increasing even as ecommerce shopping has grown by 70% in the last three years.
The role of retail stores is evolving and industry operators are discovering in-store experiences are still vital from the customer perspective. Successful brick-and-mortar industry operators are incorporating ecommerce into their business models. Trends include providing ship-from-store and buy online, pickup in store options to give customers more flexibility in the way they can shop. Key success factors include the level of customer satisfaction, product selection, prices, and convenience.
Customer Analysis
Demographic profile of target market.
The precise demographics for Pasadena, California are:
Total | Percent | |
---|---|---|
Total population | 117,270 | 100% |
Male | 57,542 | 49.1% |
Female | 59,728 | 50.9% |
Under 5 years | 5,911 | 5.0% |
5 to 9 years | 8,077 | 6.9% |
10 to 14 years | 9,214 | 7.9% |
15 to 19 years | 8,730 | 7.4% |
20 to 24 years | 6,279 | 5.4% |
25 to 34 years | 13,937 | 11.9% |
35 to 44 years | 13,654 | 11.6% |
45 to 54 years | 17,983 | 15.3% |
55 to 59 years | 8,546 | 7.3% |
60 to 64 years | 6,636 | 5.7% |
65 to 74 years | 12,236 | 10.4% |
75 to 84 years | 4,463 | 3.8% |
85 years and over | 1,604 | 1.4% |
Customer Segmentation
Artisan Home & Decor will primarily target the following customer profiles:
- Millennial customers looking for one-of-a-kind home decor
- Boomer customers looking for one-of-a-kind home decor
- Gen z customers looking for one-of-a-kind home decor
- Businesses looking for unique decor for their offices, waiting rooms, or lobbies
Competitive Analysis
Direct and indirect competitors.
Artisan Home & Decor will face competition from other retailers with similar business profiles. A description of each competitor company is below.
Pasadena Home Decor
Pasadena Home Decor provides high-end home decor for the conscientious consumer. Located in Pasadena, California, the home decor retailer is able to provide a tailored shopping experience for its customers. The store’s list of products includes tables, chairs, wall hangings, rugs, vases, photo frames, candles, office decor, and paintings by local artists. Pasadena Home Decor sells online and in-store to give customers flexibility.
Pasadena Home Decor’s promise is to deliver high quality pieces that will stand out. Customers who purchase furniture and home decor from Pasadena Home Decor will be delighted with the customer service, cleanliness of the store, and personalized design services the company offers.
Home Shoppe
Home Shoppe is a California-based home decor retail store that provides outstanding pieces for discerning clientele. Home Shoppe stocks unique furniture and other decor items that are 100% hand-crafted. The owners of Home Shoppe are experienced craftsmen themselves, so they know how quality furniture and home decor pieces should be made. Clients can depend on their selection of products for durability, style, and eco-friendly materials. Choose Home Shoppe for your next home decor project and let the sales team take the stress out of the redecorating process by helping you select the best products for your home.
Redecorating For You
Redecorating For You is a trusted Pasadena retail company that provides superior home decor products for shoppers in Pasadena and the surrounding areas. The shop offers an extensive inventory of home decor items in a variety of styles so there is something for every taste. Redecorating For You is able to provide premium pieces that fill every space with elegance and style. The shop also eases the stress of redecorating by providing in-store pickup and delivery options for busy customers.
Competitive Advantage
Artisan Home & Decor will be able to offer the following advantages over their competition:
- Artisan Home & Decor will bring fresh inventory into the store on a regular basis so there will always be something new for customers to check out. In addition to in-store sales, the company will sell pieces online through its website.
- Artisan Home & Decor offers one-of-kind pieces created by local artisans to suit a wide variety of home decor styles and tastes.
Marketing Plan
Brand & value proposition.
Artisan Home & Decor will offer the unique value proposition to its clientele:
- Artisan Home & Decor will make redecorating easy for customers by providing in-store shopping, pickup, delivery, online shopping, ship-from-store, and buy online-pickup in store options.
- By purchasing from the shop, customers are supporting local artisans and getting fresh decor that no one else will have.
Promotions Strategy
The promotions strategy for Artisan Home & Decor is as follows:
Social Media Marketing
The company will use various social media platforms such as TikTok, Instagram, Facebook, LinkedIn, YouTube, and Snapchat to promote the shop, feature artisans, and show off new pieces. The marketing director will oversee the social media marketing activities to grow the customer base.
Professional Associations and Networking
Artisan Home & Decor will become a member of professional associations such as the National Retail Federation, California Retailers Association, and the Home Furnishings Association. The company will focus its networking efforts on expanding its network of clients, designers, and artisans.
Print Advertising
Artisan Home & Decor will invest in professionally designed print ads to display in programs or flyers at industry networking events, in home decor publications, and direct mailers.
Website/SEO Marketing
Artisan Home & Decor’s marketing director will be responsible for creating and maintaining the company website. The website will be well organized, informative, and list all of the products currently available for purchase online.
The marketing director will also manage Artisan Home & Decor’s website presence with SEO marketing tactics so that any time someone types in the Google or Bing search engine “Pasadena home decor retailer” or “home decor store near me”, Artisan Home & Decor will be listed at the top of the search results.
The pricing of Artisan Home & Decor will be premium and on par with competitors so customers feel they receive value when purchasing the one-of-a-kind products.
Operations Plan
The following will be the operations plan for Artisan Home & Decor.
Operation Functions:
- Joyce Hernandez will be the Owner and Manager of the store. She will oversee all staff and manage day-to-day operations. Joyce has spent the past year recruiting the following staff:
- Melissa Jacobs – Inventory Manager who will be responsible for sourcing, purchasing, pricing, and maintaining the inventory.
- Robert Brown – Staff Accountant/bookkeeper who will provide all store accounting, tax payments, and monthly financial reporting.
- Bill Johnson – Marketing Director who will provide all marketing and sales activities for Artisan Home & Decor including maintaining the website, social media, print advertising, and promotions.
- Julia Smith – Lead Sales Associate & Designer who will manage all sales associates and provide design services for customers.
Milestones:
Artisan Home & Decor will have the following milestones complete in the next six months.
9/1/2022 – Finalize contract to lease the retail space.
9/15/2022 – Finalize personnel and staff employment contracts for the management team.
10/1/2022 – Finalize contracts for suppliers.
10/15/2022 – Begin networking at industry events and implement the marketing plan.
10/22/2022 – Begin moving into the Artisan Home & Decor shop.
11/1/2022 – Artisan Home & Decor opens for business.
Artisan Home & Decor will be owned and operated by Joyce Hernandez, a retailer who has worked as a store manager of a local home decor store for nearly a decade. Joyce has recently graduated from California University with a Bachelor’s degree in Business Management. Now that she has gained real-world experience managing a store and the education on how to run a retail business, she is inspired to start her own company, Artisan Home & Decor.
Melissa is a graduate of the University of California with a Bachelor’s degree in Interior Design. She has been working at a local retail home decor company for over a decade as an assistant manager. Melissa has an eye for design and keen organizational skills that will allow her to effectively manage Artisan Home & Decor’s one-of-a-kind inventory. Her communication skills will enable her to establish and maintain working relationships with suppliers.
Financial Plan
Key revenue & costs.
The revenue drivers for Artisan Home & Decor are the retail fees they will charge to the customers in exchange for their products. The shop will charge a healthy margin to make sure artisans are paid well for their products while ensuring a solid profit for the business.
The cost drivers will be the overhead costs required in order to staff a retail store. The expenses will be the payroll cost, rent, utilities, store supplies, and marketing materials.
Funding Requirements and Use of Funds
- Store shelving, displays, equipment, supplies, and materials: $40,000
Key Assumptions
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
- Average number of items sold per month: 300
- Average sales per month: $90,000
- Retail space lease per year: $100,000
Financial Projections
Income statement.
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
---|---|---|---|---|---|---|
Revenues | ||||||
Total Revenues | $360,000 | $793,728 | $875,006 | $964,606 | $1,063,382 | |
Expenses & Costs | ||||||
Cost of goods sold | $64,800 | $142,871 | $157,501 | $173,629 | $191,409 | |
Lease | $50,000 | $51,250 | $52,531 | $53,845 | $55,191 | |
Marketing | $10,000 | $8,000 | $8,000 | $8,000 | $8,000 | |
Salaries | $157,015 | $214,030 | $235,968 | $247,766 | $260,155 | |
Initial expenditure | $10,000 | $0 | $0 | $0 | $0 | |
Total Expenses & Costs | $291,815 | $416,151 | $454,000 | $483,240 | $514,754 | |
EBITDA | $68,185 | $377,577 | $421,005 | $481,366 | $548,628 | |
Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
EBIT | $41,025 | $350,417 | $393,845 | $454,206 | $521,468 | |
Interest | $23,462 | $20,529 | $17,596 | $14,664 | $11,731 | |
PRETAX INCOME | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
Use of Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
Taxable Income | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
Income Tax Expense | $6,147 | $115,461 | $131,687 | $153,840 | $178,408 | |
NET INCOME | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 |
Balance Sheet
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
---|---|---|---|---|---|---|
ASSETS | ||||||
Cash | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 | |
Accounts receivable | $0 | $0 | $0 | $0 | $0 | |
Inventory | $30,000 | $33,072 | $36,459 | $40,192 | $44,308 | |
Total Current Assets | $184,257 | $381,832 | $609,654 | $878,742 | $1,193,594 | |
Fixed assets | $180,950 | $180,950 | $180,950 | $180,950 | $180,950 | |
Depreciation | $27,160 | $54,320 | $81,480 | $108,640 | $135,800 | |
Net fixed assets | $153,790 | $126,630 | $99,470 | $72,310 | $45,150 | |
TOTAL ASSETS | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 | |
LIABILITIES & EQUITY | ||||||
Debt | $315,831 | $270,713 | $225,594 | $180,475 | $135,356 | |
Accounts payable | $10,800 | $11,906 | $13,125 | $14,469 | $15,951 | |
Total Liability | $326,631 | $282,618 | $238,719 | $194,944 | $151,307 | |
Share Capital | $0 | $0 | $0 | $0 | $0 | |
Retained earnings | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
Total Equity | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
TOTAL LIABILITIES & EQUITY | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 |
Cash Flow Statement
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
---|---|---|---|---|---|---|
CASH FLOW FROM OPERATIONS | ||||||
Net Income (Loss) | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 | |
Change in working capital | ($19,200) | ($1,966) | ($2,167) | ($2,389) | ($2,634) | |
Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
Net Cash Flow from Operations | $19,376 | $239,621 | $269,554 | $310,473 | $355,855 | |
CASH FLOW FROM INVESTMENTS | ||||||
Investment | ($180,950) | $0 | $0 | $0 | $0 | |
Net Cash Flow from Investments | ($180,950) | $0 | $0 | $0 | $0 | |
CASH FLOW FROM FINANCING | ||||||
Cash from equity | $0 | $0 | $0 | $0 | $0 | |
Cash from debt | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
Net Cash Flow from Financing | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
Net Cash Flow | $154,257 | $194,502 | $224,436 | $265,355 | $310,736 | |
Cash at Beginning of Period | $0 | $154,257 | $348,760 | $573,195 | $838,550 | |
Cash at End of Period | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 |
Retail Business Plan Template FAQs
What is a retail business plan.
A retail business plan is a plan to start and/or grow your retail business. Among other things, it outlines your business concept, identifies your target market, presents your marketing plan and details your financial projections.
You can easily complete your retail business plan using our Retail Business Plan Template here .
What are the Main Types of Retail Businesses?
There are a number of different kinds of retail businesses, some examples include: Specialty Store, Off-Priced/Used Goods Store, Department Store, Convenience Store, Drug Store/Pharmacy, Discount Store, Hypermarket, and E-commerce.
How Do You Get Funding for Your Retail Business Plan?
Retail businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.
A solid retail business plan with comprehensive financial statements will help show investors your are well-prepared to start your own business. A retail business plan template will help you quickly and easily get started.
What are the Steps To Start a Retail Business?
Starting a retail business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Retail Business Plan - The first step in starting a business is to create a detailed retail store business plan that outlines all aspects of the venture. This should include supporting market research, your potential market size and target customers, the services or products you will offer, marketing strategy, your competitive advantages and detailed financial projections.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your retail business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your retail business is in compliance with local laws.
3. Register Your Retail Business - Once you have chosen a legal structure, the next step is to register your retail business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your retail business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Retail Equipment & Supplies - In order to start your retail business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your retail business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
Where Can I Get a Retail Business Plan PDF?
You can download our free retail business plan template PDF here . This is a sample retail business plan template you can use in PDF format.
Other Helpful Business Plan Templates
Ecommerce Business Plan Template Clothing Store Business Plan Template Beauty Supply Store Business Plan Template T-Shirt Business Plan Template
Retail Dogma
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RETAIL EDUCATION & TRAINING SOLUTIONS
Retail Business Plan
A retail business plan is a document that gives you and your potential investors a roadmap on how your new retail business intends to get started and deliver its business goals over its initial few years (usually 5 years).
It is usually broken down into sections about the company, the industry it operates in, the competition it will face and a plan that covers marketing, financials and operations over the first few years in business.
Also check out this one-page Business Model Canvas for a retail business .
Retail Business Plan Template
You can download this free retail business plan template from the link below. You will be able to edit the word file and export it into PDF format afterwards.
In the coming sections, we will explain the different components that go into the retail business plan, which you can then apply to your own plan when completing the template.
![retail shop business plan example Retail Business Plan Template](https://www.retaildogma.com/wp-content/uploads/2021/02/Retail-Business-Plan-Template.png)
Check out more free downloads .
Executive Summary
We recommend writing the executive summary at the end of the process, after you have filled out all the other sections in the retail business plan template.
In the executive summary you will cover the following points briefly:
- Types of products sold at the store
- Customers served by the store
- Company mission & vision
- Market share to be captured
You will also mention the total amount you will need to start this business, backed by the financial plan you prepared as part of this business plan.
The total amount that you want to borrow or have invested in your business will be the sum of pre-opening costs (initial inventory, equipment, rent,..) and the maximum negative cash flow as per your cash flow plan.
If you are writing this retail business plan for a financial institution to get a loan, mention how you expect to repay the loan, and you should have already included the loan installments in your financial plan.
If you are writing this plan for investors, mention how much equity they will receive in return for this investment and the expected return on investment, and expected cash distributions (dividends) based on your financial plan.
For example
An investment of 100,000$ in the business will result in the investor receiving 20% equity. We plan to distribute 50% of the profits every year, and based on our financial projections this will be a xx,xxx$ in the first year, xx,xxx$ in the second year, and xx,xxx$ in the third year,..etc.
Company Overview
Here you will write about your business and give a brief overview about the type of store you will be starting.
You can cover the following points:
- Store category (e.g. beauty store, toy store)
- Store location and brief description of the area
- Product categories carried
- Company legal structure
Industry Overview
Write an overview about the industry (retail/ecommerce) as a whole and the most recent trends specific to this industry.
Cover areas such as:
- Total retail sales
- Contribution of your retail category to the total sales (size of the market)
- Online vs. Brick & Mortar trends
- Recent industry trends and shifts in terms of products you are selling
You can find the most recent insights about retail in our Retail Statistics page.
Read Also: What is Retail ?
Target Market
Write about your target customers that you know will be interested in your products. Mention demographic and psychographic details in this section. This will help afterwards in drafting your marketing plan.
You can cover the following details:
- Age bracket
- Income level
- Educational level
- The specific needs that your products will fill for them
![retail shop business plan example retail shop business plan example](https://www.retaildogma.com/wp-content/uploads/2023/04/course-icon-5.png)
FOUNDATIONS OF MARKETING
- Learn the fundamentals of marketing
- See how they apply to buying, merchandising & pricing
- Real-life case studies and examples
Competition
List the current competition in the market that are serving your target customers. Mention your top 3 competitors in your area.
You can also include indirect competition, such as online stores or marketplace sellers, if you think this might affect your business.
Cover information about:
- No. of stores
- Size of stores
- Product categories they sell
- Pricing level
- Sales per day estimates
- Strengths & Weaknesses
You can also create a summary table like the one below
5 | 2000 | Fashion, beauty & accessories | $$ | 10365$ | |
3 | 1300 | Fashion & accessories | $$$ | 5432$ | |
1 | 900 | Fashion | $ | 1724$ |
Competitive Advantage
What will make customers leave the competition and come to you? Use the weaknesses areas that you mentioned about the competition in the previous section, and mention how you will improve on them.
This could be by:
- Superior quality
- Better prices
- Convenience
- More variety
- Better shopping experience
Marketing Plan
Describe your marketing strategy for your store and which channels you are going to use.
Cover the following areas:
- Brand Positioning
- Branding Strategy (Persona, tone, language,..)
- Product Strategy (Key products and product features that will attract your customers)
- Pricing Strategy
- Promotional Strategy
- Marketing Channels
Operations Plan
Write how you will operate your store and include details about your manpower plan.
This will include the management that you will hire for the store, visual merchandisers, sales staff and cashiers.
Cover the following:
- Management structure (store manager, supervisor,..)
- Staff plan (3 sales associates, 2 cashiers, etc.)
- Brief role descriptions
- Compensation structure
Read Also: Retail Scheduling
![retail shop business plan example retail shop business plan example](https://www.retaildogma.com/wp-content/uploads/2023/04/course-icon-11.png)
RETAIL OPERATIONS MANAGEMENT
- Managing Store Operations
- Areas of Responsibility
- Assessing & Managing Performance
Financial plan
List estimates for the capital you will need to start and financial projections for the following years.
Capital Needed
Start with how much capital you will need to start the business
This will include:
- Initial rent
- Initial product order (Inventory)
- Initial staff salary
- Store fixtures
- Store equipment
Read Also: How Much Capital You Will Need For a New Retail Store?
Financial Projections
Include a 5-year financial projection for the business based on your forecasted sales and costs.
![retail shop business plan example P&L Management Excel](https://www.retaildogma.com/wp-content/uploads/2020/11/Screen-Shot-2020-11-10-at-4.01.35-PM-e1689141072889.png)
- Monthly income statement (P&L) for the first year
- Yearly income statement for the following 4 years
- Monthly cash flow projection for the first year
Learn how to create a sales budget for a new store, and 3 years financial projections in our Retail Budgeting Course
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RETAIL BUDGETING & PLANNING
- The step by step retail budgeting process
- Set monthly targets adjusted to seasonality
- Templates download & practice exercise
Break Even Point
Include a snapshot of the 5-year P&L plan here and mention the SPD (sales per day) you need to breakeven, based on your P&L numbers.
We have created a sample table with retail data in the business plan template, and you can fill it with your own numbers.
1,000,000 $ | 55% | -134487 $ | |
1,200,000 $ | 56% | -74587 $ | |
1,380,000 $ | 56% | -10324 $ | |
1,518,000 $ | 55% | 150234 $ | |
1,593,900 $ | 55% | 183454 $ |
Key Assumptions
Mention the assumptions you used for creating your financial projections.
For example , you assumed that sales per day for the first year will be 1000$ and then will grow by 20% in the second year, 15% in the third year and 10% in the fourth year, etc.
Retail Business Plan Tips
Sales projections.
We recommend being very realistic about your initial sales per day projections, as your entire financial plan will be directly affected by it.
When you then forecast your growth for the coming years, you should also be realistic about how much you will grow year-on-year.
From our experience, retail stores typically see higher growth after the first year and then this starts to level off from the third year onwards.
Having said that, there might be other growth drivers that can affect your business and accelerate your growth in the following years. This could be for example that your new store is in an area that is still under development and will be fully developed by the third year.
What we want to say is, do your due diligence thoroughly and based on that set realistic expectations.
Inventory Projections
The biggest asset you will hold and the biggest part of the investment/loan you will need to start your retail business will go for inventory.
So it is important to calculate your inventory needs correctly.
This will be based on your sales forecasts and the inventory turnover rate you expect or the forward stock cover you intend to maintain.
For example, if your inventory turnover target is 2, this means you maintain a 6 months cover. If your inventory turnover is 3, you maintain 4 months stock cover,..and so on.
We recommend checking out the benchmarks we have listed for different retail categories for inventory turnover and reading our complete Open to Buy guide to get started with calculating exactly how much inventory you will need.
Good luck in your new venture!
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Courses, templates, frameworks & more..
More resources.
Thank you for reading this article on Retail Business Plan. We recommend the below free resources as well:
- Retail Management
- Starting a Retail Business
- Buying a Retail Business
Join the academy and get all access to all our resources, which will help you manage your retail business more efficiently.
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Retail Business Plan Template
Written by Dave Lavinsky
![Retail-Business-Plan-oncg1vba54sk69qt27pvtt48m5aegfvars268bypis-p3pmsxn04dx3uwxgwx9ln9tkqlu98fl3kuii41t8dw Growthink.com Retail Business Plan Template](https://www.growthink.com/wp-content/uploads/elementor/thumbs/Retail-Business-Plan-oncg1vba54sk69qt27pvtt48m5aegfvars268bypis-p3pmsxn04dx3uwxgwx9ln9tkqlu98fl3kuii41t8dw-qbpazdo6xff7mrknxqf3gkvzplzjh7y0byt9g2vc1g.jpg)
Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow their retail and online stores. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a retail business plan template step-by-step so you can create your plan today.
Download our Ultimate Retail Business Plan Template here >
What is a Retail Business Plan?
A business plan provides a snapshot of your retail business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes thorough market research to support your retail business plans.
Why You Need a Business Plan for a Retail Store
If you’re looking to start a retail business or grow your existing retail business you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your retail business in order to improve your chances of success. Your retail business plan is a living document that should be updated annually as your company grows and changes.
Sources of Funding for Retail Stores
With regards to funding, the main sources of funding for a retail store business are bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.
The second most common form of funding for a retail business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.
Finish Your Business Plan Today!
How to write a business plan for a retail store.
A strong retail business plan should include 10 sections as follows:
Executive Summary
- Company Overview
Industry Analysis
Customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan.
Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.
The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of retail store you are operating and the status; for example, are you a startup, do you have a retail business that you would like to grow, or are you operating a chain of retail stores.
Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the retail industry. Discuss the type of retail store you are operating. Detail your direct competitors. Give an overview of your target market. Provide a snapshot of your retail marketing plan. Identify the key members of your team. And offer an overview of your financial plan.
Company Analysis
In your company analysis, you will detail the type of retail business you are operating.
For example, you might operate one of the following types:
- Specialty Store – a store with a tight focus (e.g., hip apparel for women)
- Off-Priced/Used Goods Store – sells massively discounted or used products
- Department Store – often located at a mall and offer tons of products (e.g., Macy’s)
- Supermarket – focuses primarily on food items
- Convenience Store – offers just the most popular items a supermarket offers in a much smaller location
- Drug Store/Pharmacy – primarily offer medicines and medical products
- Discount Store – offer large inventories at low prices (e.g., Walmart)
- Hypermarket – offer many food and non-food items often in large quantities at a discount (e.g., Costco)
- E-commerce – offers products for sale online (e.g., Amazon)
In addition to explaining the type of retail business you operate, the Company Analysis section of your business plan needs to provide background on the business.
Include answers to question such as:
- When and why did you start the business?
- What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new store openings, etc.
- Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.
In your industry analysis, you need to provide an overview of the retail industry.
While this may seem unnecessary, it serves multiple purposes.
First, researching the industry educates you. It helps you understand the market in which you are operating.
Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards local retail businesses with online counterparts, it would be helpful to ensure your plan calls for a significant online presence.
The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.
The following questions should be answered in the industry analysis section:
- How big is the retail business (in dollars)?
- Is the market declining or increasing?
- Who are the key competitors in your local market?
- Who are the key suppliers in the market?
- What trends are affecting the industry?
- What is the industry’s growth forecast over the next 5 – 10 years?
- What is the relevant market size? That is, how big is the potential market for your retail business. You can extrapolate such a figure by assessing the size of your niche’s market in the entire country and then applying that figure to your local population.
The customer analysis section of your retail store business plan must detail the customers you serve and/or expect to serve.
The following are examples of customer segments: college students, sports enthusiasts, soccer moms, techies, teens, baby boomers, etc.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of retail business you operate. Clearly baby boomers would want a different atmosphere, pricing and product options, and would respond to different marketing strategies than teens.
Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most retail businesses primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.
Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.
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Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.
Direct competitors are other brick-and-mortar retail businesses. They are most likely local businesses who sell similar items to you.
Indirect competitors are other options that customers have to purchase from you that aren’t direct competitors. You most likely will have online competitors; companies that sell the same or similar items to you, but which operate online.
For each direct competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:
- What types of customers do they serve?
- What products do they offer?
- What is their pricing (premium, low, etc.)?
- What are they good at?
- What are their weaknesses?
With regards to the last two questions, think about your answers from the customers’ perspective. Look at review websites to gain this information.
The final part of your competitive analysis section is to document your areas of competitive advantage. For example:
- Will you provide superior products or services?
- Will you provide products that your competitors don’t?
- Will you make it easier or faster for customers to acquire your products?
- Will you provide better customer service?
- Will you offer better pricing?
Think about ways you will outperform your competition and document them in this section of your plan.
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a retail business, your marketing plan should include the following:
Product : Here, you should reiterate the type of retail business that you documented in your Company Analysis. Then, detail the specific products you will be offering.
Price : Document the prices you will offer and how they compare to your competitors. In this sub-section, you are presenting the items you offer and their prices.
Place : Place refers to the location of your retail business. Document your location and mention how the location will impact your success. For example, is your retail business located next to a heavily populated office building, or gym, etc. Discuss how your location might provide a steady stream of customers. Also, if you operate or plan to operate kiosks, detail the locations where the kiosks will be placed.
Promotions : In this sub-section, you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:
- Making your brick-and-mortar storefront extra appealing to attract customers
- Social media marketing
- Search engine optimization
- Advertising in local papers and magazines
- Reaching out to local bloggers and websites
- Partnerships with local organizations
- Local radio advertising
- Banner ads at local venues
While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your retail operations plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running your retail business such as serving customers, inventory management, keeping the store clean, etc.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 5,000th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new store location.
In this section of your retail store business plan, explain the management structure as this demonstrates your store’s ability to succeed as a business. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Ideally you and/or your team members have direct experience in the retail business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in retail businesses and/or successfully running retail and small businesses.
Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.
Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you serve 100 customers per day or 200? And will sales grow by 2% or 10% per year? As you can imagine, poor financial planning will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your retail business, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Cash Flow Statement : Your cash flow projections will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, you may need to purchase inventories now that you can’t sell (and get paid for) for several months. During those months, you could run out of money.
In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a successful retail business:
- Location build-out including design fees, construction, etc.
- Cost of fixtures
- Cost of initial inventory
- Payroll or salaries paid to staff
- Business insurance
- Taxes and permits
- Legal expenses
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint or location lease.
Download Our Retail Business Plan PDF
You can download our retail business plan PDF to help you create your own business plan.
Retail Business Plan Summary
Putting together a business plan for your retail store will improve your company’s chances of success. The process of developing your plan will help you better understand your target market, your competition, and your customers. You will also gain a marketing plan to better attract and serve customers, an operations plan to focus your efforts, and financial projections that give you goals to strive for and keep your company focused.
Growthink’s Ultimate Retail Business Plan Template allows you to quickly and easily complete your retail store business plan.
Additional Resources For Starting a Retail Store
- How To Start a Retail Business
- Brick and Mortar Business: From Idea to Grand Opening
- 6 Retail Store Layouts That Drive Sales
OR, Let Us Develop Your Plan For You
Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.
Click here to see how a Growthink business planning consultant can create your business plan for you.
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Do you have dreams of owning your own brick and mortar retail store? Or an eCommerce website you can run from the comfort of your own home? Whichever retail option you choose, you’ll need a business plan to get started and successfully manage it.
Check out our library of retail sample plans for inspiration and guidance as you build out your own physical retail or eCommerce business.
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How to Write An Attention-Grabbing Retail Business Plan
- by Luke O'Neill
minute read
![retail shop business plan example How to Write An Attention-Grabbing Retail Business Plan](https://blog-assets.lightspeedhq.com/img/2021/11/203d0096-business-plan_1200x628_retail.jpg)
Now, you might be thinking: ‘why do I need a business plan? I’ve got it all mapped out in my head. I might even have successful businesses already!’
But business plans are so much more than another action item on your ever-growing to-do list. They communicate your positioning, planning and potential for success to the world.
Whether you’re writing your first business plan or your tenth, we’ve put together a guide to getting it done that will help:
- The purpose of a retail business plan
- How a retail business plan differs from other business plans
- Before you get started
- What to include in your plan
- Mistakes to avoid
- How to set your plan apart
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Use our easy-to-follow inventory management to streamline your processes and eliminate errors.
What are retail business plans for?
Retail business plans are planning and forecasting documents. They explain your business model, who your customers are and how you plan to take your store or online shop from an idea to a profitable reality.
Why are retail business plans different?
Because retail businesses are different.
Whether you’re selling from a brick-and-mortar store or through an online shop, you have to consider a combination of factors that many other businesses don’t. Think inventory, store supplies, sourcing and supply chains. And, even more complex activities like order fulfillment, deliveries and customer returns.
You don’t need to write a tome that covers all of these areas, but they will inform how you put your business plan on paper.
What are the different sections of a retail business plan?
Crafting an attention-grabbing retail business plan hinges on detailing its most crucial sections with precision.
Your elevator pitch. | |
Details the size and growth potential of your target market, customer demographics, purchasing habits, and competitor analysis. | |
Lays out financial projections and funding requirements clearly. | |
Provides an overview of your business, including its history, mission, vision and goals. | |
Describes the organizational structure of your business. | |
Outlines the products or services your business will offer. | |
Details how you will attract and retain customers. | |
Explains how your business will operate on a day-to-day basis. | |
Includes supporting documents or additional data that provide further context or evidence for your business plan. |
Each section plays a vital role in presenting a comprehensive and convincing plan for your retail business.
Here are three pivotal areas to focus on:
- Executive summary: your elevator pitch. The executive summary distills your business concept, market positioning and unique selling proposition into a compelling narrative that hooks the reader immediately.
- Market analysis: this section should detail the size and growth potential of your target market, customer demographics, and purchasing habits. It also covers competitor analysis, showing awareness of your competition and how your business will stand out.
- Financial Plan: lay out your financial projections and funding requirements clearly. This includes startup costs, projected income statements, cash flow forecasts, and a break-even analysis.
Before you write your retail business plan
But let’s pump the brakes for a second. It might be tempting to dive right in and start writing your business plan as soon as possible. But consider these suggestions before you do.
Research your market first
“Without a market, a retail firm cannot exist,” said Susan Smith, marketing manager at Velden Engineering . “One of the first things readers will look for when reading your business plan is evidence of a healthy market, an unmet need in the market and how your company is positioned to meet that need. Completing thorough market research before developing your business plan should be a top priority,” she said.
To grasp customer demographics and preferences, retailers should engage in thorough market research:
- Analyze existing data on target market segments to understand age, gender, income levels and lifestyle choices.
- Conduct surveys and focus groups to gather insights directly from potential customers about their needs, preferences, and shopping behaviors.
- Leverage social media analytics to reveal wider trends and consumer sentiments.
Combining quantitative data with qualitative feedback allows retailers to tailor their offerings and marketing strategies effectively, ensuring their business plan is aligned with customer expectations and market demand.
Understand your competitors
This will give you valuable insight into your own products and services.
“Most industries are becoming oversaturated at this point, so investors want to know what sets you apart. What makes you unique. Do as much research into your competitors as you do into your own business ,” said Gabriel Dungan, CEO and founder of mattress topper company, ViscoSoft.
To research your competitors:
- Shop with them. Browse their online storefront, visit one of their locations, make a purchase and make note of their services.
- Gather their press releases, investor relations and earning statements.
- Chart their growth patterns and research the cities and neighborhoods they operate in.
- Record their USP, product offering and any loyalty programs.
Choose the right location
When selecting a potential location, consider factors such as target market proximity, foot traffic, competition density and the compatibility of the local demographic with your product offering. A prime location can boost foot traffic, offering more opportunities to attract and retain customers.
The impact of location extends beyond mere physical presence; it’s about positioning your business in a spot that maximizes its exposure to the right audience, enhancing the likelihood of higher sales volumes.
Do research to help you articulate the rationale behind your location:
- Gather market research data, foot traffic statistics and competitive analysis.
- Cross reference how your chosen location aligns with your target market’s profile and shopping habits.
Have a growth strategy
Identify a clear growth strategy to strengthen your business plan, suggests Michelle Ebbin, Owner of Australian clothing brand JettProof . “Most companies focus on market penetration where they sell current products to an already existing market,” said Ebbin. “While that’s a feasible route, you might also want to explore product development by introducing new, innovative products to existing customers.”
“There’s also market development where you try to find new markets for your existing products and diversification for introducing new products to new markets,” she said. Ebbin believes determining a clear growth strategy can increase retailers’ chances of convincing potential investors, who essentially want to know how you will grow your business once it’s up and running.
TIP: Accountants and financial advisors can help you prepare your retail business plan.
Retailers should consider expansion or diversifying product lines and services when their current operations consistently exceed performance expectations, signaling market demand and operational capacity for growth. Analyze sales data, customer feedback, and market trends to identify opportunities. Additionally, if there’s a noticeable shift in consumer behavior or emerging trends align with your business’s strengths, it might be time to diversify. In your business plan, clearly outline the strategic rationale for expansion or diversification, supported by data and market analysis, to demonstrate how these moves will drive future growth and address evolving market needs.
What to include in your retail business plan
When it comes to the specifics, include these details.
Give a business overview in your executive summary
For your executive summary, give a high-level description of your retail business. If you had less than two minutes to explain why your business will succeed, what would you say?
You can mention your company’s structure, legal name, location and the products or services you’ll sell, but don’t go in depth—these will all have their own dedicated sections. Describe whether you will be selling in-store, online or across various channels.
Keep this section simple. Use easy-to-understand language. It shouldn’t be more than a page, and it should get people excited right away.
Explain your business goals
In this section, you should talk about what you plan to achieve. Why are you starting this business, and where do you want it to go? Realistically, what will you be able to make happen?
This doesn’t need to be lengthy or complex. And the goal doesn’t need to be huge, either. For example:
“Our goal is to become the go-to provider of HD gaming and streaming cameras for teenagers in San Francisco within 18-24 months.”
You could also cover any goals you have about locations, product ranges or online stores.
Showcase your industry experience
This section is more about you, the owner. It’s where you showcase your personal and professional drive to take the business forward. Keep it brief, but say why you’re the right person to take this retail business from an idea to a reality.
- Your specialty, such as brick-and-mortar, ecommerce or both. Direct-to-consumer (DTC) is also an option.
- Any senior roles in well-known national or regional retail businesses
- Sales or lead generation goals you’ve driven before
- Successful growth initiatives, like new store openings.
Set out your marketing strategy
Here’s where you talk about your store’s image and branding strategy. Cover of some of the fundamentals of retail marketing, including your plans for the 4Ps of retail marketing.
Here’s a quick reminder about what they are:
- Product: What you’ll sell and your Unique Selling Proposition (USP).
- Pricing: How much your products will cost and why you’ve chosen these price points.
- Place: Where you’re going to sell your products (online, in-store or omnichannel).
- Promotion: How you’re going to promote both your store and the products you will sell.
Consider briefly outlining your strategy for leveraging social media for marketing and customer engagement. Describe how platforms like Instagram, Facebook and Twitter will serve as tools for brand promotion, product launches, and direct customer interaction.
This section doesn’t need to be overlong or complex. If you want to dive into the details—or provide a complete marketing plan —you can do this in an appendix at the end of the plan.
Financial strategy and forecast
Nine times out of 10, this is what people reading your business plan will most want to see.
“At the end of the day, your company will be judged on its capacity to generate a profit,” said Will Cannon, CEO of Signaturely , an e-signature software company. “Investors will want to see some data related to your startup demands and revenue estimates, no matter how succinct and appealing your retail business plan is,” he said.
Think about including your:
- Estimated capital requirements
- Profit and revenue model
- Estimated sales volume
- A break-even point calculation
- Balance sheet projections
- Cash flow projections.
Above all, ground these figures in reason.
Detail the management structure
Explain your management setup. Who are the founders? What will their job be? Will you have a CFO, a CPO, a head buyer, a head of marketing? A vice president? Define your titles and jobs.
This will make things move much more easily throughout the early settling-in time. Everyone will understand where they stand and you will know how you plan to manage people on a daily basis. This strategy should include information such as the number of team members you’ll hire, their roles and how those roles fit into the wider plan.
Outline your plan for technology and retail operations
In this part of your business plan, detail how you’ll harness retail technology to streamline operations, enhance customer experience and expand your market reach. List your options for POS systems, why you’re considering them, their opportunities for growth and their annual cost.
Emphasize integrating ecommerce into your business model and exactly how—will you operate your own site, sell on Amazon or both? Discuss the specifics of your online storefront, including website design—will you pay for a custom-coded site?—payment processing systems and cybersecurity measures to protect customer information.
Talk about inventory sourcing and supplier management
Outline your criteria for selecting suppliers, including their sustainability practices, delivery timelines and ability to scale with your business. If you have any quotes from or connections with suppliers already, include those details here.
Discuss your strategies for efficient inventory sourcing, such as leveraging technology for inventory management, adopting a just-in-time inventory system to reduce holding costs and diversifying your supplier base to mitigate risks. Explain how you plan to negotiate favorable terms and build a collaborative rapport with suppliers to secure better prices, quality improvements and exclusive products.
Include your approach to handling supply chain disruptions and ensuring product availability to meet customer demand without overstocking.
Make a plan for compliance and legal considerations
This part of your retail business plan should detail any local zoning laws, health and safety standards and specific retail sector regulations you need to make a plan for.
Mention the need for protecting your business with the right insurance policies. Outline the types of insurance you’ll secure, such as:
- Liability insurance
- Property insurance
- Workers’ compensation
Mention your sustainability and ethical practices
Describe initiatives you’ll invest in, such as using eco-friendly materials, reducing waste through efficient packaging and implementing energy-saving practices within operations, and briefly mention their importance to your potential customers.
Also discuss the importance of ethical inventory sourcing, ensuring that products are obtained from suppliers who uphold high standards for labor practices and environmental responsibility.
Finish by detailing plans to monitor and adapt to market trends
Future-proof your retail business plan by laying the foundation for scaling and adapting. Outline your strategies for continuous market research, including customer feedback mechanisms, social media monitoring and industry reports, to identify emerging trends and shifts in consumer preferences.
Discuss how your business plan is designed to be flexible, allowing you to swiftly adapt to changing market conditions. This might include diversifying product lines, embracing new technologies or refining marketing strategies to meet evolving consumer demands.
Avoid these common mistakes
A good business plan is as much about what you leave out as what you put in.
Too much detail
You’re not here to write a novel. You’re here to get busy people on board with your business plan.
“Potential partners and investors will not waste time pouring over hundreds of pages of rambling nonsense,” said Nick Edwards, Director at Snow Finders , a ski holiday company in the UK.
Long blocks of text should be avoided. Use visuals and graphics to substitute prose, with any exceptionally heavy content being attached as appendices if necessary.
Poor financial planning
Some landlords take a percentage of sales as part of the rent. And it’s common for rent to increase annually. Your retail business plan should account for growing expenses, taxes and wider market influences to prove you’ve got a handle on your financial planning.
Spelling and grammar
Remember the basics. Grammar and spelling errors show you haven’t put diligence into the planning process. And that can undermine how partners and potential investors view the plan.
Once you’ve written your business plan, have a professional editor look it over to catch any errors and make sure you’re as clear as possible.
How to strengthen your business plan
As you’ll have noticed by now, you need to keep a few different audiences in mind while writing your business plan. In most cases, there are three:
- Potential investors: People or businesses who want to back your business with capital, in return for future profits or part-ownership.
- Potential business partners: Suppliers, brands and business partners who may want to supply goods or services to your business, or even help you run the whole show.
- Banks, lenders and insurers: Financial institutions that you may need for credit cards, overdrafts, loans or revolving credit facilities.
“Be wary about exaggerating your numbers or laying out too difficult or impossible things,” said Stacey Kane, Business Development Lead at Easy Merchant . “You want the investor who finds flaws in your plan to be the exception, not the norm. With this perspective, you can strengthen your view of what can be done with research and transparent results. Finding ways to show how valuable your idea is will also help make them more likely to invest,” she said.
Finishing your retail business plan
Done well, business plans are much more than a helpful written guide to your business strategy. They’re a resource to attract future business partners, and even a foundation for securing outside funding. Don’t put writing your retail business plan on the backburner for too long—it could be one of the first stepping stones to your very own thriving retail business.
Ready to write your retail business plan? Talk to a Lightspeed product expert to discover how the right POS technology can help you show investors and partners that you mean business.
Frequently asked questions about business plans
How do i write a retail business plan.
Begin with a clear executive summary, followed by market analysis to understand your audience.
Detail your business description, including products and services. Include sections on organization and management, marketing and sales strategies, funding requests (if applicable), financial projections and an appendix for additional documents.
Each section should be concise, backed by research, and reflect your vision for the business.
How do I start a successful retail business?
- Identify a market need and develop a business model that addresses that need uniquely.
- Conduct thorough market research.
- Choose a strategic location.
- Curate a compelling product mix.
- Write a business plan detailing all this, plus financial planning, and get funding.
How do you structure a retail business?
Organize your operations into key areas: procurement, sales, marketing, inventory management, customer service and finance. Define clear roles and responsibilities for your team to ensure smooth operations and a positive customer experience.
What does a retail business plan look like?
A retail business plan includes an executive summary, market analysis, business description, organization and management structure, details of product or service offerings, marketing and sales strategy, financial projections and an appendix. It’s a structured document that outlines your business goals and your financial expectations.
How do you start a business plan from scratch?
Start by defining your business idea and objectives. Conduct market research to understand your competition and target audience. Outline your business structure, products or services, marketing and sales strategies and financial plans including projections. Write an executive summary last, which summarizes the key points of your plan. Use a clear, concise and realistic approach throughout the document.
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Luke O’Neill writes for growing businesses in fintech, legal SaaS, and education. He owns Genuine Communications , which helps CMOs, founders, and marketing teams to build brands and attract customers.
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Retail Business Plan Template [Updated 2024]
Retail Business Plan Template
If you want to start a Retail business or expand your current Retail company, you need a business plan.
You can download our Retail business plan template (including a full, customizable financial model) to your computer here.
The following retail store business plan template gives you the key elements to include in a winning plan for your own retail business. It can be used to create a business plan for a clothing store, an electronics store, a shoe store, or any other type of retail business.
In addition to this template, conducting market research for your customer base will help you identify potential market trends and customer segments to better understand the viability of your retail company and your potential competitive advantage.
Sample Retail Business Plan
Below are links to the key sections of a successful retail business plan:
I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan
Download our Retail business plan template (including a full, customizable financial model) to your computer here.
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Retail Business Plan Outline
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Retail Business Plan Template
Start or update your retail shop business plan with our free template. Outline your goals, identify your target market, and forecast your financials with ease. Create a professional and comprehensive plan to set your business up for success.
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Download the retail business plan template here:
Are you an aspiring entrepreneur looking to start a retail business? Or maybe you already have a retail shop and want to update your business plan? Either way, a business plan is an essential document that can help you secure funding, identify key business strategies, and ultimately, set your business up for success.
But creating a business plan can be a daunting task, especially for small business owners who may not have extensive experience with financial modeling, market research, or strategy development. That's where our free retail shop business plan template comes in.
Our template is designed to simplify the process of creating a professional and comprehensive business plan for your retail shop. It's user-friendly, customizable, and provides step-by-step guidance for outlining your goals, identifying your target market, developing a marketing strategy, and forecasting your financials.
Here are some of the key features of our template:
Easy-to-use:.
Our template is user-friendly and easy to customize. Whether you're an experienced business owner or a novice, you can easily navigate through the template and customize it to fit your business needs.
Step-by-Step Guidance:
Our template provides step-by-step guidance on how to complete each section of your business plan. We've included helpful tips, examples, and prompts to help you write a comprehensive and effective plan.
Customizable:
Our template is customizable, allowing you to add or remove sections depending on your business needs. You can also change the formatting, fonts, and colors to match your branding and style.
Comprehensive:
Our template covers all the essential elements of a business plan, including executive summary, company overview, market analysis, marketing strategy, financial projections, and more. You can be confident that you're not missing any critical elements.
Professional:
Our template is designed to give your business plan a professional look and feel. It's organized, easy to read, and includes charts and graphs to help you visualize your financial projections.
Creating a business plan for your retail shop doesn't have to be a daunting task. With our free retail shop business plan template, you can simplify the process and create a professional and comprehensive plan that sets your business up for success. Download our template today and take the first step towards achieving your business goals.
Retail Business Plan Frequently Asked Questions
Q: why do i need a business plan for my retail shop.
A: A business plan is essential for any entrepreneur looking to start or grow their business. A well-written business plan can help you secure funding from investors or lenders, identify your target market, develop a marketing strategy, and forecast your financials. It also serves as a roadmap for your business, helping you stay focused on your goals and track your progress over time.
Q: I'm a small business owner with limited experience in financial modeling. Can I still create a comprehensive business plan?
A: Yes! Our free retail shop business plan template is designed to simplify the process of creating a basic and comprehensive business plan, even if you don't have extensive experience with financial modeling. Our template provides a complete example of a retail business plan complete each section of your plan. You can also use a retail shop financial projection template if creating projections seems daunting.
Q: How can I customize the template to fit my specific business needs?
A: Our retail shop business plan template is fully customizable, allowing you to add or remove sections depending on your business needs. You can also change the formatting, fonts, and colors to match your branding and style. We've designed the template to be flexible and adaptable, so you can create a plan that's tailored to your business.
We Know a Good Business Plan When we See One
Collectively, our team has reviewed thousands of business plans and has nearly 20 years of experience making SBA loans. We've also helped more than 50,000 businesses create financial projections across many industries and geographies.
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Adam served as Executive Director for a SBA microlender in Indiana for over 10 years helping businesses and reviewing thousands of business plans.
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Ecommerce may be booming but opening and running successful shops and retail companies of the bricks-and-mortar variety is still a life goal for many.
If you’re planning to make that dream a reality, writing a thorough business plan should be at the top of your to-do list — here’s why.
What is a business plan?
Your business plan is essentially your company’s strategic blueprint. It explains what your business idea is and sets out your goals and how you will achieve them, while considering the environment you’ll operate in.
Typically, it’s the first proper step of getting your retail business off the ground and can be used to get investors, grants, loans or other funding for your company before you open your shop doors.
Something that can also help your planning is a Business Model Canvas . It is a handy tool to help you build out your business plan.
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Thinking about starting a business or already putting your ideas into action? We’ve got the resources, expertise and software to help you achieve your goals.
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Do independent shops really need a business plan?
The short answer is yes. Of course it’s possible to do well with a good idea and a bit of luck but you’re more likely to succeed with a solid business plan to help guide your decision-making. Researching your plan will also help you figure out if your products or services are financially viable and in demand before you launch. Here are three things to consider as part of your business planning process:
1. Location, location, location
For shops and retail companies, whether you’re opening a community greengrocer or an exclusive boutique, one of the most important aspects of your business model is your location. Pulling a plan together will encourage you to think about the most viable location for success, as well as the cost implications.
2. Customers
When creating your business plan, you’ll need to research your potential customers. Documenting who they are, how they behave and the circumstances in which they will shop with you will aid you in determining the stock you will carry and how to effectively promote your store to customers.
3. Pricing model
A big part of any business plan is the financial figures that are included. As part of the planning process, you should be doing detailed research on potential competitors and their prices as well as all the expenses that running your business will incur. This will help you determine the prices that you will charge for the products you sell.
What are the other benefits to having a business plan?
- It looks good to potential partners, investors, lenders and funding bodies, and if you want to apply for a business loan, you’ll most likely need a business plan.
- It will help you work out what your unique selling proposition is, identify threats and challenges, and come up with solutions and coping strategies.
- It will make you set short and long-term SMART goals, such as launching a new website within three months or opening a second shop in year three of trading.
- You can use it to benchmark your performance by comparing your company’s results and achievements with the goals set out in your plan.
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If you want to increase the chances of your business being successful, it’s worth having a business plan
How to write a business plan for your shop
Your business plan doesn’t have to be a boring document. Given some investors make their decision to provide funding to start-ups and existing firms based on the people as much as the business itself, your business plan should showcase your passion and personality.
However, certain bodies or individuals who can provide funding will expect you to include specific information. Putting your plan together using the following sections can help you make a strong case for securing the required finance:
- Executive summary
- Business overview
- Audience and market
- Products and services
As we’ve discussed, your business plan will be critical to you running a profitable shop, which is all the more reason to ensure that you are thorough in your approach. Here are some top tips for writing your plan:
Be realistic
It’s unlikely that you will be profitable straight away and sales may show steady growth rather than a massive spike. If your plan includes figures that seem unrealistic, you should justify them.
Accuracy is key
As your business plan will help you make decisions, it’s important the information you base those decisions on is correct. Double check everything. We have some great advice on how to get more accurate figures for your business plan .
As your plan will be used to help you manage your retail business and potentially be shared with others, it’s important to avoid waffle. You can always make use of appendices for supplementary information.
Want help with business plan for shops and retail companies?
Your accountant may be able to give you tips and ideas, or ask your bank if they have a small business adviser you could talk to. If you’re ready to start your research and writing, why not use an online template?
To help you out, we’ve created a business plan template specifically for shops and retail companies with physical stores. It’s free to download and takes you through the process step by step with detailed guidance notes.
Don’t forget that your plan should evolve with your business, so you should revisit and update it regularly. Good luck!
Want to create a business plan for your shop or retail company but not sure how to do it? Download our free and easy-to-use business plan template and you can get started.
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What is a business plan for the retail industry?
A business plan for the retail industry serves as a structured document that outlines the objectives, strategies, and operations of a retail venture. It provides a detailed roadmap for launching or expanding a retail store, taking into account factors like market research, product offerings, target demographics, and financial projections. This plan acts as both a blueprint for the business’s future growth and a communication tool to attract potential investors or partners.
In the dynamic world of retail, where consumer preferences and market trends can shift rapidly, a comprehensive business plan becomes essential. It not only helps retailers navigate the complexities of the industry but also prepares them to adapt and evolve. Incorporating tools like Solink can further enhance these plans by providing real-time insights, bolstering security, and aiding in loss prevention , ensuring that the retail business remains resilient and profitable in a competitive market.
What goes into a retail business plan?
When writing a business plan for the retail industry, there are some essential sections that shouldn’t be missed. In addition to an introduction and conclusion, here are the other eight sections to add to your retail business plan and some pointers on what to include.
1. Executive summary
- Brief description of the business
- Retail sector (e.g., apparel, electronics, groceries)
- Business goals and vision
2. Business description and structure
- Nature of the retail business
- Legal structure (sole proprietorship, partnership, corporation)
- Location and facilities
3. Market research
- Overview of the retail industry
- Target market demographics and behavior
- Competitive analysis
Learn how Solink can support your business.
4. product and services.
- Description of products or services offered
- Pricing strategy
- Unique selling points and value proposition
5. Marketing and sales strategy
- Marketing objectives
- Advertising and promotion strategies
- Sales tactics and forecast
6. Operational plan
- Supply chain management
- Inventory control
- Role of technology and software
7. Management and personnel
- Overview of key personnel
- Roles and responsibilities
- Training and development
8. Financial projections
- Start-up expenses and funding sources
- Projected income statement
- Cash flow forecast and balance sheet
- Break-even analysis
3 business plan examples for the retail industry
What goes into a retail business plan will change depending on the type of store you are opening. Here are three business plan examples for the retail industry:
- Fuel & Flee is a convenience store and gas station.
- Buy Right is a large footprint franchised grocery store
- Green Groves is a zero waste concept store targeting eco-conscious consumers
Business plan example 1: "Fuel & Flee", a convenience store and gas station
Here is the first retail business plan example. Fuel & Fire is a typical convenience store and gas station business.
Introduction
In today’s fast-paced world, the convenience store and gas station industry plays a pivotal role for daily commuters, weekend travelers, and community residents. “Fuel & Flee” is poised to redefine this sector by delivering top-notch vehicle fuels and a diverse array of essential items for on-the-go consumers. By harnessing Solink’s potent tools, we anticipate an enhanced security atmosphere and precise, actionable business insights.
- Name and nature: “Fuel & Flee” is designed to be a dual-function entity, melding a state-of-the-art gas station with a fully-stocked convenience store.
- Prime location: The business will reside at the intersection of Main Street and Highway 101, capturing both the local and highway traffic.
- Vision statement: Our aim is to emerge as the number one pit-stop choice for every traveler and local resident within a 10-mile radius.
- Holistic offerings: Apart from standard fuel services, a variety of convenience products such as fresh food, beverages, and daily essentials will be available.
- Legal backbone: Registered as a Limited Liability Company (LLC), ensuring protection and flexibility.
- Location details: A spacious location with 4 fuel pumps, 12 parking spots, and a 2,500 sqft store, all primed for quick and easy access.
- Industry insight: A 5% annual growth has been noted in the convenience store and gas station sector, especially in highway-adjacent areas.
- Target audience: Segment 1: Daily commuters (40%); Segment 2: Long-distance travelers (35%); Segment 3: Local families (25%).
- Competition analysis: Within a 15-mile radius, there are three major competitors—two national chains and one local establishment.
- Fuel varieties: Regular, mid-grade, premium, and diesel options for diverse vehicle needs.
- Store inventory: Over 1,000 unique items including snacks, drinks, automotive products, and a dedicated section for organic and local produce.
- Added amenities: A 24-hour ATM, a self-service air pump, and a mini cafe offering fresh coffee and pastries.
- Technological boost: The Solink system will provide unparalleled management insights, monitoring transaction data to understand optimal restocking times.
- Visual branding: Vibrant signboards and in-store displays to attract and retain customer attention.
- Promotional moves: Monthly deals such as “Fill & Feast” offering discounts on combined fuel and store purchases, aiming to increase average ticket size by 15%.
- Financial forecast: Anticipated revenue growth of 20% in the first year, scaling to 30% by the third year due to strategic promotions and customer loyalty initiatives.
- Supplier ties: Established contracts with top-tier fuel suppliers and local product distributors, ensuring consistent quality and timely deliveries.
- Inventory tactics: Bi-weekly stock checks and data-driven restocking decisions supported by Solink’s analytical prowess.
- Safety and surveillance: Continuous monitoring with Solink’s cloud-based video surveillance , ensuring a secure shopping environment and deterring potential thefts.
- Key staff: A seasoned store manager with 10 years in the retail and fuel sectors, supported by four cashiers, six fuel attendants, and three part-time staff members for restocking and cleaning.
- Employee growth: A commitment to staff development through quarterly training sessions focusing on safety protocols, customer service enhancements, and product knowledge.
- Startup costs: An initial outlay of $500,000 covering land lease, construction, and the first stock of inventory.
- Recurring expenditures: Estimated monthly expenses of $50,000 including salaries, utilities, and replenishing stock.
- Revenue breakdown: Anticipated monthly earnings from fuel sales ($120,000), convenience store sales ($80,000), and additional services ($10,000) totaling $210,000.
- Profit milestone: Predicted to hit the break-even point by the eighth month, with steady profit growth thereafter.
With its strategic offerings and location, “Fuel & Flee” stands on the precipice of becoming a dominant force in the convenience store and gas station domain. Tools like Solink can drastically amplify its operational capabilities and security levels, ensuring the venture is both profitable and remains a top pick for its diverse clientele.
Business plan example 2: "Buy Right", a grocery store
Here is the second business plan example. In this case, we are looking at opening a franchised grocery store. The overall size of the property is much higher, as are the startup costs.
In an era where consumer preferences lean towards vast selections and one-stop shopping experiences, grocery stores have an immense role. “Buy Right” seeks to harness this demand by inaugurating a large franchised grocery outlet, ensuring customers have access to a diverse range of products under one roof.
Partnering with Solink, the store aims to guarantee safety, loss prevention, and deep business insights for continual improvement.
- Business essence: “Buy Right” will function as a large-scale franchised grocery store, offering everything from daily essentials to gourmet items.
- Strategic location: Situated in the bustling commercial hub of Maple Street, ensuring easy access for a large population.
- Mission: Delivering quality products at competitive prices while ensuring an unmatched shopping experience.
- Store blueprint: A sprawling 20,000 sqft store with dedicated sections for fresh produce, dairy, bakery, meats, international goods, and more.
- Legal design: Operating as a franchise under a well-renowned grocery chain ensures brand recognition and trust.
- Facility features: Equipped with 15 checkout counters (including 6 self-checkouts ), a deli, a bakery, and ample parking for over 100 vehicles.
- Industry dynamics: A consistent 4% annual growth in the large grocery store sector, particularly in urban areas.
- Target demographic: Segment 1: Families (50%); Segment 2: Young working professionals (30%); Segment 3: Seniors (20%).
- Competitive landscape: Three direct competitors within a 10-mile radius, including another franchised store and two local grocery chains.
- Comprehensive offerings: Over 15,000 unique SKUs from local, national, and international brands.
- Value-added services: A bakery producing fresh items daily, a deli offering cold cuts, and a pharmacy section.
- Tech enhancement: Implementation of Solink to monitor customer shopping patterns, ensuring inventory is aligned with demand and improving store layout based on customer heatmaps .
- Promotion: Weekly flyers highlighting discounts, in-store product sampling, and seasonal sales to boost footfall.
- Loyalty programs: “Buy More, Save More” program, aiming to increase average customer spending by 10% within the first year.
- Sales projections: Expected to serve over 500 customers daily, with an average spending of $50 per customer.
- Supply chain dynamics: Tie-ups with established distributors, ensuring regular stock replenishment and fresh produce every alternate day.
- Inventory management: Use of Solink to prevent POS employee theft , audit shelves for stock levels, and detect any irregular activities in real time.
- Security measures: Enhanced surveillance with Solink Video Alarms Monitoring Service .
- Management team: A store manager backed by a decade of retail experience, along with two assistant managers.
- Staff structure: A team of 40 which includes cashiers, stockers, bakery and deli staff, and customer service representatives.
- Training paradigm: Monthly training on product knowledge, customer service etiquette, and safety measures.
- Initial investment: Estimated at $1.5 million, covering franchising fees, store setup, and initial inventory.
- Ongoing expenses: Monthly costs projected at $200,000, which includes salaries, utilities, rent, and inventory purchases.
- Revenue estimates: Anticipated monthly revenue of $750,000, with the goal of achieving a break-even point by the seventh month.
“Buy Right” holds the potential to redefine grocery shopping in the Maple Street area by offering a comprehensive selection in a customer-friendly environment. The added advantage of Solink ensures security, streamlined operations , and valuable insights. With this robust plan, “Buy Right” is geared to flourish in the competitive grocery market.
Business plan example 3: "Green Groves", an eco-friendly store
This is the third retail business plan example. It is a unique concept store focusing on the green market. The business operates as an eco-friendly, zero waste store catering to environmentally conscious consumers.
In a world grappling with environmental issues, sustainable solutions are at the forefront of consumer choices. “Green Groves” aspires to be a game-changer in retail by offering an eco-friendly zero waste shopping experience. With the integration of Solink’s capabilities, security and insightful business analysis will be assured.
- Business ethos: “Green Groves” will pioneer a zero waste, packaging-free retail environment.
- Strategic spot: Positioned in the heart of EcoVille, a community known for its green initiatives.
- Objective: To nurture a sustainable shopping culture and diminish the carbon footprint of retail.
- Store design: A 5,000 sqft open-plan store, equipped with bulk bins, refill stations, and reusable container displays.
- Business form: Operates as a sole proprietorship, with strong ties to local organic farmers and ethical suppliers.
- Store features: Apart from bulk goods, there’s a section for sustainable living products like bamboo toothbrushes, metal straws, and cloth bags.
- Eco trend: A 7% yearly increase in consumers seeking sustainable shopping options.
- Target demographic: Segment 1: Eco-conscious families (45%); Segment 2: Millennials and Gen-Z (40%); Segment 3: Sustainable lifestyle adopters (15%).
- Rivals: Two health stores in the vicinity, but none offer a complete zero waste experience.
- Goods galore: A range of organic foods, personal care items, household cleaning products, all sold without packaging.
- Eco tools: Reusable containers for sale and rent, ensuring customers can shop even if they forget theirs.
- Tech integration: Solink will monitor the POS , preventing operational shrink, and will provide insights on consumer purchase patterns.
- Eco-campaigns: Monthly workshops on sustainable living, zero waste challenges, and rewards for consistent zero waste shoppers.
- Loyalty perks: “Sustain & Save” program, targeting a 12% hike in repeat customers within the initial year.
- Revenue forecast: Expecting an average daily footfall of 200 customers, with an average spend of $30.
- Supply chain: Direct collaborations with organic farmers and ethical product makers, ensuring fresh stock and product authenticity.
- Stock management: Remote video monitoring of the store and stockroom will help keep the right amount of inventory available for purchase.
- Safety and security: Enhanced by Solink’s surveillance capabilities, ensuring a safe and theft-free shopping environment.
- Lead team: Store manager with a passion for sustainable living, backed by a degree in environmental studies.
- Crew composition: A mix of 10 full-time and part-time staff members, including stockers, cashiers, and a dedicated person for customer education on zero waste.
- Kick-off capital: An estimated $250,000, which includes store setup, initial inventory, and marketing efforts.
- Recurring costs: Monthly operational expenses estimated at $30,000, covering salaries, rent, utilities, and stock replenishments.
“Green Groves” stands out as a beacon for sustainable shopping in EcoVille. With Solink in its arsenal, the store is not only set to offer a secure and streamlined shopping experience but also a data-driven approach to meet consumer demands effectively. This venture promises not just profitability but also a positive impact on the planet.
Add Solink to your retail business plan
In the evolving retail landscape, having a robust business plan is only the beginning. The real differentiator lies in harnessing cutting-edge tools that optimize operations, enhance security, and provide actionable insights. Solink stands out as a transformative solution in this realm.
By integrating Solink into your retail strategy, businesses are not merely investing in surveillance but in a comprehensive tool that brings loss prevention, advanced security, and invaluable business insights to the fore.
As demonstrated with “Green Groves”, a store with a vision, the marriage of sustainability and technology can create a retail environment that’s both profitable and in tune with modern needs. For any retailer crafting or refining their business plan, Solink isn’t just an option; it’s a forward-thinking imperative.
To see why Solink should be part of every retail business plan, sign up for a demo today.
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Retail Business Plan
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Slow and steady wins the race, they said; which is also true for the retail industry. Compared to wholesale, retail is all about selling products, not in bulk but in small quantities with a higher profit margin. However, because this industry existed for a long time, it’s going to be a challenge for anyone who desires to start venturing within the industry, without any preparation! Nonetheless, to help you weave through all the commotion we have 10+ Retail Business Plan Examples ready for your use. These high-quality templates are also accompanied by an excellent guide to help you create an amazing document. Check it down now!
10+ Retail Business Plan Examples
1. retail business plan template.
![retail shop business plan example Retail Business Plan Template](https://images.examples.com/wp-content/uploads/2020/07/Retail-Business-Plan-Template.jpg)
- Google Docs
Size: A4, US
2. Clothing Retail Business Plan Template
![retail shop business plan example Clothing Retail Business Plan Template](https://images.examples.com/wp-content/uploads/2020/07/Clothing-Retail-Business-Plan-Template.jpg)
3. Sports Retail Business Plan
![retail shop business plan example Sports Retail Business Plan](https://images.examples.com/wp-content/uploads/2020/07/Sports-Retail-Business-Plan.jpg)
Size: 60 KB
4. Retail Services Business Plan
![retail shop business plan example Retail Services Business Plan](https://images.examples.com/wp-content/uploads/2020/07/Retail-Services-Business-Plan.jpg)
Size: 112 KB
5. Retail Store Business Plan
![retail shop business plan example Retail Store Business Plan](https://images.examples.com/wp-content/uploads/2020/07/Retail-Store-Business-Plan.jpg)
Size: 180 KB
6. Retail Business Plan Example
![retail shop business plan example Retail Business Plan Example](https://images.examples.com/wp-content/uploads/2020/07/Retail-Business-Plan-Example.jpg)
Size: 415 KB
7. Retail Small Business Plan
![retail shop business plan example Retail Small Business Plan](https://images.examples.com/wp-content/uploads/2020/07/Retail-Small-Business-Plan.jpg)
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8. Retailer Business Plan Template
![retail shop business plan example Retailer Business Plan Template](https://images.examples.com/wp-content/uploads/2020/07/Retailer-Business-Plan-Template.jpg)
9. Retail Marketing Business Plan
![retail shop business plan example Retail Marketing Business Plan](https://images.examples.com/wp-content/uploads/2020/07/Retail-Marketing-Business-Plan.jpg)
10. Retail Business Plan in PDF
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11. Retail Marketing Business Plan Example
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What is a Retail Business Plan?
A retail business plan is a document that showcases the operational plan , communication plan , marketing plan , and financial plan of a startup retail business. This document is important to help people trust your venture and leadership more so you or your team can gain more financial support for the business.
What are America’s most profitable stores?
Whether we like it or not, there are always groups that can achieve more than the average. So here is the top five list of most profitable retail stores in America in 2019.
Number 1: Walmart
Walmart is number one in the list of the top retailers with the most revenue for the year 2019-2020. They are on this spot because of their $523.96 billion revenue that’s more than half of the $900 billion retail markets.
Number 2: Amazon
Jeff Bezos’ baby, Amazon, takes the second spot. The ECommerce giant gained as much as $280.5 billion for the year 2019 alone. Its command of its 150 million Amazon Prime users further boosts these numbers by ensuring that these men keep coming and will keep their $119 annual membership.
Number 3: Costco
The wholesale warehouse club Costo comes third with a staggering $149 billion in its pocket. They are also number one in the American Customer Satisfaction Index for this year. This achievement clearly shows the exceptional customer service they are doing.
Number 4: Walgreens Boots Alliance
Number four on the spot of the top retailers with the most revenue for the year 2019 is Walgreen Boots Alliance. They earned $136.87 billion for the year 2019-2020. They got this number amidst the COVID-19 pandemic, which shows their edge over other retail stores and companies.
Number 5: The Kroger Co.
The Kroger Co. is the largest supermarket by revenue and gained $122.28 billion in profits for the year 2019-2020. They are the second-largest retailer after Walmart who’s obviously sitting at the top.
How to Create a Retail Business Plan
Starting a business can be difficult at times, especially if you are venturing into an industry filled with business giants that you can only look up to. However, with persistence, hope, and an excellent retail business plan what could go wrong? Noting! You will be firm in your strategic movements because you already perceived your future endeavors and plans! Listed below are the steps you can take to create your retail business plan.
Step 1: Create an Executive Summary
Executive Summaries are important to any business plan. Why? Because they are that icing in the cake or the cream in your frappe. They make your business plan more agreeable and tempting. How can they do this? You might want to ask. Simple. Written in the executive summary are the summaries of all your parts. In this way, investors can already understand the whole concept while not having read the whole business plan.
Step 2: Goals and Target Market
The target market of a retail store may vary. A boutique focuses more on clothing, textile, and fashion. However, you cannot expect the same way in other retail stores and that’s why you should specify your target market. In this way, people can easily analyze if your business is viable or not.
Step 3: Include Your Company Profile
Your business team tells more about the business. Although you should never judge other people easily, whether you like it or not the quality of your team matters. That’s why if you want to gain more financial assistance, you should make sure that you provide a fitting company profile . If you are planning to start a cosmetic retail store and the people in your management are all computer engineers, then you’ll find it hard for people to believe. That’s why you should tell people that they can trust you by providing a good company profile.
Step 4: Marketing, and Finance
This is basic. People want to learn about your business because they want to earn. That’s why you should include an excellent marketing plan in your business plan. In this way, people can think for themselves if your plan can work or not. Another thing that you should put in your document is the financial plan . In this way, people can check its contents and they can decide which strategic need they can support that will increase the success rate of your retail store.
Is the retail business profitable?
Yes. Retail business is profitable. As mentioned earlier, the total revenue of the US retail industry amidst the COVID-19 pandemic is a staggering $900 billion. Although this only showcases a page compared to the pages in the list, you can already deduce the possibility of you earning in this industry, as well.
Is a supermarket a retail store?
Technically, yes. Supermarkets are large retail stores, as you can still buy items in small quantities. Thus it acts as a retail store. After all, retail stores are those stores that provide goods or products to the end-user customers, and supermarkets do this while also acting as a wholesale store.
What are the types of retail?
The types of retailers are listed below: 1. Convenience Retailer 2. Internet/Mobile Retailer 3. Warehouse Retailers 4. Discount Retailer 5. Specialty/Outlet Retailers 6. Department Stores 7. Grocery Stores and Supermarkets
The retail industry is a never-ending booming industry. It grows when others wither and expands when it’s time to expand. That’s why it is important for you to have a business plan before venturing within. However, once you have an excellent brand even marketing fashion is not difficult; remember H&M? So, start with an outline or a template for now, and tomorrow the world.
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Free Business Plan Template for Small Businesses (2024)
Use this free business plan template to write your business plan quickly and efficiently.
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A good business plan is essential to successfully starting your business — and the easiest way to simplify the work of writing a business plan is to start with a business plan template.
You’re already investing time and energy in refining your business model and planning your launch—there’s no need to reinvent the wheel when it comes to writing a business plan. Instead, to help build a complete and effective plan, lean on time-tested structures created by other entrepreneurs and startups.
Ahead, learn what it takes to create a solid business plan and download Shopify's free business plan template to get started on your dream today.
What this free business plan template includes
- Executive summary
- Company overview
- Products or services offered
- Market analysis
- Marketing plan
- Logistics and operations plan
- Financial plan
This business plan outline is designed to ensure you’re thinking through all of the important facets of starting a new business. It’s intended to help new business owners and entrepreneurs consider the full scope of running a business and identify functional areas they may not have considered or where they may need to level up their skills as they grow.
That said, it may not include the specific details or structure preferred by a potential investor or lender. If your goal with a business plan is to secure funding , check with your target organizations—typically banks or investors—to see if they have business plan templates you can follow to maximize your chances of success.
Our free business plan template includes seven key elements typically found in the traditional business plan format:
1. Executive summary
This is a one-page summary of your whole plan, typically written after the rest of the plan is completed. The description section of your executive summary will also cover your management team, business objectives and strategy, and other background information about the brand.
2. Company overview
This section of your business plan will answer two fundamental questions: “Who are you?” and “What do you plan to do?” Answering these questions clarifies why your company exists, what sets it apart from others, and why it’s a good investment opportunity. This section will detail the reasons for your business’s existence, its goals, and its guiding principles.
3. Products or services offered
What you sell and the most important features of your products or services. It also includes any plans for intellectual property, like patent filings or copyright. If you do market research for new product lines, it will show up in this section of your business plan.
4. Market analysis
This section includes everything from estimated market size to your target markets and competitive advantage. It’ll include a competitive analysis of your industry to address competitors’ strengths and weaknesses. Market research is an important part of ensuring you have a viable idea.
5. Marketing plan
How you intend to get the word out about your business, and what strategic decisions you’ve made about things like your pricing strategy. It also covers potential customers’ demographics, your sales plan, and your metrics and milestones for success.
6. Logistics and operations plan
Everything that needs to happen to turn your raw materials into products and get them into the hands of your customers.
7. Financial plan
It’s important to include a look at your financial projections, including both revenue and expense projections. This section includes templates for three key financial statements: an income statement, a balance sheet, and a cash-flow statement . You can also include whether or not you need a business loan and how much you’ll need.
Business plan examples
What do financial projections look like on paper? How do you write an executive summary? What should your company description include? Business plan examples can help answer some of these questions and transform your business idea into an actionable plan.
Professional business plan example
Inside our template, we’ve filled out a sample business plan featuring a fictional ecommerce business .
The sample is set up to help you get a sense of each section and understand how they apply to the planning and evaluation stages of a business plan. If you’re looking for funding, this example won’t be a complete or formal look at business plans, but it will give you a great place to start and notes about where to expand.
![retail shop business plan example Example text in a business plan company overview section](https://cdn.shopify.com/s/files/1/0070/7032/files/business-plan-example-1.png?v=1687893032)
Lean business plan example
A lean business plan format is a shortened version of your more detailed business plan. It’s helpful when modifying your plan for a specific audience, like investors or new hires.
Also known as a one-page business plan, it includes only the most important, need-to-know information, such as:
- Company description
- Key members of your team
- Customer segments
💡 Tip: For a step-by-step guide to creating a lean business plan (including a sample business plan), read our guide on how to create a lean business plan .
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Benefits of writing a solid business plan
It’s tempting to dive right into execution when you’re excited about a new business or side project, but taking the time to write a thorough business plan and get your thoughts on paper allows you to do a number of beneficial things:
- Test the viability of your business idea. Whether you’ve got one business idea or many, business plans can make an idea more tangible, helping you see if it’s truly viable and ensure you’ve found a target market.
- Plan for your next phase. Whether your goal is to start a new business or scale an existing business to the next level, a business plan can help you understand what needs to happen and identify gaps to address.
- Clarify marketing strategy, goals, and tactics. Writing a business plan can show you the actionable next steps to take on a big, abstract idea. It can also help you narrow your strategy and identify clear-cut tactics that will support it.
- Scope the necessary work. Without a concrete plan, cost overruns and delays are all but certain. A business plan can help you see the full scope of work to be done and adjust your investment of time and money accordingly.
- Hire and build partnerships. When you need buy-in from potential employees and business partners, especially in the early stages of your business, a clearly written business plan is one of the best tools at your disposal. A business plan provides a refined look at your goals for the business, letting partners judge for themselves whether or not they agree with your vision.
- Secure funds. Seeking financing for your business—whether from venture capital, financial institutions, or Shopify Capital —is one of the most common reasons to create a business plan.
Why you should you use a template for a business plan
A business plan can be as informal or formal as your situation calls for, but even if you’re a fan of the back-of-the-napkin approach to planning, there are some key benefits to starting your plan from an existing outline or simple business plan template.
No blank-page paralysis
A blank page can be intimidating to even the most seasoned writers. Using an established business planning process and template can help you get past the inertia of starting your business plan, and it allows you to skip the work of building an outline from scratch. You can always adjust a template to suit your needs.
Guidance on what to include in each section
If you’ve never sat through a business class, you might never have created a SWOT analysis or financial projections. Templates that offer guidance—in plain language—about how to fill in each section can help you navigate sometimes-daunting business jargon and create a complete and effective plan.
Knowing you’ve considered every section
In some cases, you may not need to complete every section of a startup business plan template, but its initial structure shows you you’re choosing to omit a section as opposed to forgetting to include it in the first place.
Tips for creating a successful business plan
There are some high-level strategic guidelines beyond the advice included in this free business plan template that can help you write an effective, complete plan while minimizing busywork.
Understand the audience for your plan
If you’re writing a business plan for yourself in order to get clarity on your ideas and your industry as a whole, you may not need to include the same level of detail or polish you would with a business plan you want to send to potential investors. Knowing who will read your plan will help you decide how much time to spend on it.
Know your goals
Understanding the goals of your plan can help you set the right scope. If your goal is to use the plan as a roadmap for growth, you may invest more time in it than if your goal is to understand the competitive landscape of a new industry.
Take it step by step
Writing a 10- to 15-page document can feel daunting, so try to tackle one section at a time. Select a couple of sections you feel most confident writing and start there—you can start on the next few sections once those are complete. Jot down bullet-point notes in each section before you start writing to organize your thoughts and streamline the writing process.
Maximize your business planning efforts
Planning is key to the financial success of any type of business , whether you’re a startup, non-profit, or corporation.
To make sure your efforts are focused on the highest-value parts of your own business planning, like clarifying your goals, setting a strategy, and understanding the target market and competitive landscape, lean on a business plan outline to handle the structure and format for you. Even if you eventually omit sections, you’ll save yourself time and energy by starting with a framework already in place.
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Business plan template FAQ
What is the purpose of a business plan.
The purpose of your business plan is to describe a new business opportunity or an existing one. It clarifies the business strategy, marketing plan, financial forecasts, potential providers, and more information about the company.
How do I write a simple business plan?
- Choose a business plan format, such as a traditional or a one-page business plan.
- Find a business plan template.
- Read through a business plan sample.
- Fill in the sections of your business plan.
What is the best business plan template?
If you need help writing a business plan, Shopify’s template is one of the most beginner-friendly options you’ll find. It’s comprehensive, well-written, and helps you fill out every section.
What are the 5 essential parts of a business plan?
The five essential parts of a traditional business plan include:
- Executive summary: This is a brief overview of the business plan, summarizing the key points and highlighting the main points of the plan.
- Business description: This section outlines the business concept and how it will be executed.
- Market analysis: This section provides an in-depth look at the target market and how the business will compete in the marketplace.
- Financial plan: This section details the financial projections for the business, including sales forecasts, capital requirements, and a break-even analysis.
- Management and organization: This section describes the management team and the organizational structure of the business.
Are there any free business plan templates?
There are several free templates for business plans for small business owners available online, including Shopify’s own version. Download a copy for your business.
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Sporting Goods Store Business Plan PDF Example
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- June 15, 2024
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Creating a comprehensive business plan is crucial for launching and running a successful sporting goods store. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your sporting goods store’s identity, navigate the competitive market, and secure funding for growth.
This article not only breaks down the critical components of a sporting goods store business plan, but also provides an example of a business plan to help you craft your own.
Whether you’re an experienced entrepreneur or new to the retail industry, this guide, complete with a business plan example, lays the groundwork for turning your sporting goods store business concept into reality. Let’s dive in!
Our sporting goods store business plan is structured to cover all essential aspects needed for a comprehensive strategy. It outlines the store’s operations, marketing strategy , market environment, competitors, management team, and financial forecasts.
- Executive Summary : Offers an overview of your sporting goods store’s business concept, market analysis , management, and financial strategy.
- Store & Location: Describes the store’s design, amenities, and why its location is appealing to potential clients.
- Supply & Products: Lists the sporting goods and accessories provided by your store, including the range of products and supplier partnerships.
- Key Stats: Shares industry size , growth trends, and relevant statistics for the sporting goods market.
- Key Trends: Highlights recent trends affecting the sporting goods sector.
- Key Competitors : Analyzes main competitors nearby and how your store differs from them.
- SWOT: Strengths, weaknesses, opportunities, and threats analysis.
- Marketing Plan : Strategies for attracting and retaining customers.
- Timeline : Key milestones and objectives from start-up through the first year of operation.
- Management: Information on who manages the sporting goods store and their roles.
- Financial Plan: Projects the store’s 5-year financial performance, including revenue, profits, and expected expenses.
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Sporting Goods Retail Store Business Plan
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Fully editable 30+ slides Powerpoint presentation business plan template.
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Executive Summary
The Executive Summary introduces your sporting goods store’s business plan, offering a concise overview of your store and its services. It should detail your market positioning, the range of sporting goods and equipment you offer, its location, size, and an outline of day-to-day operations.
This section should also explore how your sporting goods store will integrate into the local market, including the number of direct competitors within the area, identifying who they are, along with your store’s unique selling points that differentiate it from these competitors.
Furthermore, you should include information about the management and co-founding team, detailing their roles and contributions to the store’s success. Additionally, a summary of your financial projections, including revenue and profits over the next five years, should be presented here to provide a clear picture of your store’s financial plan.
Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan
Business Overview
For a Sporting Goods Store, the Business Overview section can be concisely divided into 2 main slides:
Store & Location
Briefly describe the store’s physical environment, emphasizing its layout, organization, and the overall atmosphere that appeals to sports enthusiasts. Mention the store’s location, highlighting its accessibility and the convenience it offers to customers, such as proximity to sports facilities, gyms, or recreational areas. Explain why this location is advantageous in attracting your target clientele, including ease of parking and foot traffic.
Supply & Products
Detail the range of sporting goods and equipment offered, from basic fitness gear and apparel to specialized equipment for various sports such as basketball, soccer, tennis, and outdoor activities. Outline your pricing strategy , ensuring it reflects the quality of products provided and matches the market you’re targeting. Highlight any seasonal promotions, membership deals, or loyalty programs that provide added value to your customers, encouraging repeat business and customer loyalty.
Make sure to cover here _ Store & Location _ Supply & Products
Market Overview
Industry size & growth.
In the Market Overview of your sporting goods store business plan, start by examining the size of the sporting goods industry and its growth potential. This analysis is crucial for understanding the market’s scope and identifying expansion opportunities.
Key Market Trends
Proceed to discuss recent market trends , such as the increasing consumer interest in fitness and outdoor activities, the growing popularity of athleisure apparel, and the demand for high-performance sports equipment. For example, highlight the shift towards health and wellness, the rise in recreational sports participation, and the integration of technology in sports gear, such as smart fitness devices.
Key Competitors
Then, consider the competitive landscape, which includes a range of sporting goods stores from large chain retailers to specialized local shops, as well as online marketplaces. Emphasize what makes your store distinctive, whether it’s through exceptional customer service, a unique range of products, or specialization in certain sports or activities. This section will help articulate the demand for sporting goods, the competitive environment, and how your store is positioned to thrive within this dynamic market.
Make sure to cover here _ Industry size & growth _ Key competitors _ Key market trends
![retail shop business plan example Sporting Goods Store Business Plan market overview](https://sharpsheets.io/wp-content/uploads/2024/06/Business-Plan_Sporting-Goods-Store-market-overview-1024x576.png)
Dive deeper into Key competitors
First, conduct a SWOT analysis for the sporting goods store, highlighting Strengths (such as a diverse product range and knowledgeable staff), Weaknesses (including high operational costs or strong competition), Opportunities (for example, a growing interest in fitness and technological advancements), and Threats (such as economic downturns that may decrease consumer spending on sports equipment).
Marketing Plan
Next, develop a marketing strategy that outlines how to attract and retain customers through targeted advertising, promotional discounts, engaging social media presence, and community involvement.
Finally, create a detailed timeline that outlines critical milestones for the sporting goods store’s opening, marketing efforts, customer base growth, and expansion objectives, ensuring the business moves forward with clear direction and purpose.
Make sure to cover here _ SWOT _ Marketing Plan _ Timeline
![retail shop business plan example Sporting Goods Store Business Plan strategy](https://sharpsheets.io/wp-content/uploads/2024/06/Business-Plan_Sporting-Goods-Store-strategy-1024x576.png)
Dive deeper into SWOT
Dive deeper into Marketing Plan
The Management section focuses on the sporting goods store’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the sporting goods store toward its financial and operational goals.
For your sporting goods store business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.
![retail shop business plan example Sporting Goods Store Business Plan management](https://sharpsheets.io/wp-content/uploads/2024/06/Business-Plan_Sporting-Goods-Store-management-1024x576.png)
Financial Plan
The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your sporting goods store business’s approach to securing funding, managing cash flow, and achieving breakeven.
This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.
For your sporting goods store business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).
Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds
![retail shop business plan example Sporting Goods Store Business Plan financial plan](https://sharpsheets.io/wp-content/uploads/2024/06/Business-Plan_Sporting-Goods-Store-financial-plan-1024x576.png)
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The 7 Best Business Plan Examples (2024)
As an aspiring entrepreneur gearing up to start your own business , you likely know the importance of drafting a business plan. However, you might not be entirely sure where to begin or what specific details to include. That’s where examining business plan examples can be beneficial. Sample business plans serve as real-world templates to help you craft your own plan with confidence. They also provide insight into the key sections that make up a business plan, as well as demonstrate how to structure and present your ideas effectively.
Example business plan
To understand how to write a business plan, let’s study an example structured using a seven-part template. Here’s a quick overview of those parts:
- Executive summary: A quick overview of your business and the contents of your business plan.
- Company description: More info about your company, its goals and mission, and why you started it in the first place.
- Market analysis: Research about the market and industry your business will operate in, including a competitive analysis about the companies you’ll be up against.
- Products and services: A detailed description of what you’ll be selling to your customers.
- Marketing plan: A strategic outline of how you plan to market and promote your business before, during, and after your company launches into the market.
- Logistics and operations plan: An explanation of the systems, processes, and tools that are needed to run your business in the background.
- Financial plan: A map of your short-term (and even long-term) financial goals and the costs to run the business. If you’re looking for funding, this is the place to discuss your request and needs.
7 business plan examples (section by section)
In this section, you’ll find hypothetical and real-world examples of each aspect of a business plan to show you how the whole thing comes together.
- Executive summary
Your executive summary offers a high-level overview of the rest of your business plan. You’ll want to include a brief description of your company, market research, competitor analysis, and financial information.
In this free business plan template, the executive summary is three paragraphs and occupies nearly half the page:
- Company description
You might go more in-depth with your company description and include the following sections:
- Nature of the business. Mention the general category of business you fall under. Are you a manufacturer, wholesaler, or retailer of your products?
- Background information. Talk about your past experiences and skills, and how you’ve combined them to fill in the market.
- Business structure. This section outlines how you registered your company —as a corporation, sole proprietorship, LLC, or other business type.
- Industry. Which business sector do you operate in? The answer might be technology, merchandising, or another industry.
- Team. Whether you’re the sole full-time employee of your business or you have contractors to support your daily workflow, this is your chance to put them under the spotlight.
You can also repurpose your company description elsewhere, like on your About page, Instagram page, or other properties that ask for a boilerplate description of your business. Hair extensions brand Luxy Hair has a blurb on it’s About page that could easily be repurposed as a company description for its business plan.
![retail shop business plan example company description business plan](https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1647062331-luxy-hair.jpg)
- Market analysis
Market analysis comprises research on product supply and demand, your target market, the competitive landscape, and industry trends. You might do a SWOT analysis to learn where you stand and identify market gaps that you could exploit to establish your footing. Here’s an example of a SWOT analysis for a hypothetical ecommerce business:
![retail shop business plan example marketing swot example](https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1647062216-swot1.png)
You’ll also want to run a competitive analysis as part of the market analysis component of your business plan. This will show you who you’re up against and give you ideas on how to gain an edge over the competition.
- Products and services
This part of your business plan describes your product or service, how it will be priced, and the ways it will compete against similar offerings in the market. Don’t go into too much detail here—a few lines are enough to introduce your item to the reader.
- Marketing plan
Potential investors will want to know how you’ll get the word out about your business. So it’s essential to build a marketing plan that highlights the promotion and customer acquisition strategies you’re planning to adopt.
Most marketing plans focus on the four Ps: product, price, place, and promotion. However, it’s easier when you break it down by the different marketing channels . Mention how you intend to promote your business using blogs, email, social media, and word-of-mouth marketing.
Here’s an example of a hypothetical marketing plan for a real estate website:
![retail shop business plan example marketing section template for business plan](https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1647062057-marketing.jpg)
Logistics and operations
This section of your business plan provides information about your production, facilities, equipment, shipping and fulfillment, and inventory.
Financial plan
The financial plan (a.k.a. financial statement) offers a breakdown of your sales, revenue, expenses, profit, and other financial metrics. You’ll want to include all the numbers and concrete data to project your current and projected financial state.
In this business plan example, the financial statement for ecommerce brand Nature’s Candy includes forecasted revenue, expenses, and net profit in graphs.
![retail shop business plan example financial plan example](https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1647061984-nature.jpg)
It then goes deeper into the financials, citing:
- Funding needs
- Project cash-flow statement
- Project profit-and-loss statement
- Projected balance sheet
You can use Shopify’s financial plan template to create your own income statement, cash-flow statement, and balance sheet.
Types of business plans (and what to write for each)
A one-page business plan is a pared down version of a standard business plan that’s easy for potential investors and partners to understand. You’ll want to include all of these sections, but make sure they’re abbreviated and summarized:
- Logistics and operations plan
- Financials
A startup business plan is meant to secure outside funding for a new business. Typically, there’s a big focus on the financials, as well as other sections that help determine the viability of your business idea—market analysis, for example. Shopify has a great business plan template for startups that include all the below points:
- Market research: in depth
- Financials: in depth
Your internal business plan acts as the enforcer of your company’s vision. It reminds your team of the long-term objective and keeps them strategically aligned toward the same goal. Be sure to include:
- Market research
Feasibility
A feasibility business plan is essentially a feasibility study that helps you evaluate whether your product or idea is worthy of a full business plan. Include the following sections:
A strategic (or growth) business plan lays out your long-term vision and goals. This means your predictions stretch further into the future, and you aim for greater growth and revenue. While crafting this document, you use all the parts of a usual business plan but add more to each one:
- Products and services: for launch and expansion
- Market analysis: detailed analysis
- Marketing plan: detailed strategy
- Logistics and operations plan: detailed plan
- Financials: detailed projections
Free business plan templates
Now that you’re familiar with what’s included and how to format a business plan, let’s go over a few templates you can fill out or draw inspiration from.
Bplans’ free business plan template
![retail shop business plan example retail shop business plan example](https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1710282950-screenshot-2024-03-13-at-3-35-16-am.png)
Bplans’ free business plan template focuses a lot on the financial side of running a business. It has many pages just for your financial plan and statements. Once you fill it out, you’ll see exactly where your business stands financially and what you need to do to keep it on track or make it better.
PandaDoc’s free business plan template
![retail shop business plan example retail shop business plan example](https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1710283193-screenshot-2024-03-13-at-3-39-35-am.png)
PandaDoc’s free business plan template is detailed and guides you through every section, so you don’t have to figure everything out on your own. Filling it out, you’ll grasp the ins and outs of your business and how each part fits together. It’s also handy because it connects to PandaDoc’s e-signature for easy signing, ideal for businesses with partners or a board.
Miro’s Business Model Canvas Template
![retail shop business plan example Miro](https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1710282936-screenshot-2024-03-13-at-3-30-01-am.png)
Miro’s Business Model Canvas Template helps you map out the essentials of your business, like partnerships, core activities, and what makes you different. It’s a collaborative tool for you and your team to learn how everything in your business is linked.
Better business planning equals better business outcomes
Building a business plan is key to establishing a clear direction and strategy for your venture. With a solid plan in hand, you’ll know what steps to take for achieving each of your business goals. Kickstart your business planning and set yourself up for success with a defined roadmap—utilizing the sample business plans above to inform your approach.
Business plan FAQ
What are the 3 main points of a business plan.
- Concept. Explain what your business does and the main idea behind it. This is where you tell people what you plan to achieve with your business.
- Contents. Explain what you’re selling or offering. Point out who you’re selling to and who else is selling something similar. This part concerns your products or services, who will buy them, and who you’re up against.
- Cash flow. Explain how money will move in and out of your business. Discuss the money you need to start and keep the business going, the costs of running your business, and how much money you expect to make.
How do I write a simple business plan?
To create a simple business plan, start with an executive summary that details your business vision and objectives. Follow this with a concise description of your company’s structure, your market analysis, and information about your products or services. Conclude your plan with financial projections that outline your expected revenue, expenses, and profitability.
What is the best format to write a business plan?
The optimal format for a business plan arranges your plan in a clear and structured way, helping potential investors get a quick grasp of what your business is about and what you aim to achieve. Always start with a summary of your plan and finish with the financial details or any extra information at the end.
Want to learn more?
- Question: Are You a Business Owner or an Entrepreneur?
- Bootstrapping a Business: 10 Tips to Help You Succeed
- Entrepreneurial Mindset: 20 Ways to Think Like an Entrepreneur
- 101+ Best Small Business Software Programs
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How To Start A Business In 11 Steps (2024 Guide)
![retail shop business plan example Katherine Haan](https://thumbor.forbes.com/thumbor/fit-in/x/https://www.forbes.com/advisor/wp-content/uploads/2024/04/Kathy-Haan-Headshot-Kathy-Haan-88x88.png)
Updated: Apr 7, 2024, 1:44pm
![retail shop business plan example How To Start A Business In 11 Steps (2024 Guide)](https://thumbor.forbes.com/thumbor/fit-in/900x510/https://www.forbes.com/advisor/wp-content/uploads/2021/04/steps_to_start_a_small_business_-_article_image.jpg)
Table of Contents
Before you begin: get in the right mindset, 1. determine your business concept, 2. research your competitors and market, 3. create your business plan, 4. choose your business structure, 5. register your business and get licenses, 6. get your finances in order, 7. fund your business, 8. apply for business insurance, 9. get the right business tools, 10. market your business, 11. scale your business, what are the best states to start a business, bottom line, frequently asked questions (faqs).
Starting a business is one of the most exciting and rewarding experiences you can have. But where do you begin? There are several ways to approach creating a business, along with many important considerations. To help take the guesswork out of the process and improve your chances of success, follow our comprehensive guide on how to start a business. We’ll walk you through each step of the process, from defining your business idea to registering, launching and growing your business .
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The public often hears about overnight successes because they make for a great headline. However, it’s rarely that simple—they don’t see the years of dreaming, building and positioning before a big public launch. For this reason, remember to focus on your business journey and don’t measure your success against someone else’s.
Consistency Is Key
New business owners tend to feed off their motivation initially but get frustrated when that motivation wanes. This is why it’s essential to create habits and follow routines that power you through when motivation goes away.
Take the Next Step
Some business owners dive in headfirst without looking and make things up as they go along. Then, there are business owners who stay stuck in analysis paralysis and never start. Perhaps you’re a mixture of the two—and that’s right where you need to be. The best way to accomplish any business or personal goal is to write out every possible step it takes to achieve the goal. Then, order those steps by what needs to happen first. Some steps may take minutes while others take a long time. The point is to always take the next step.
Most business advice tells you to monetize what you love, but it misses two other very important elements: it needs to be profitable and something you’re good at. For example, you may love music, but how viable is your business idea if you’re not a great singer or songwriter? Maybe you love making soap and want to open a soap shop in your small town that already has three close by—it won’t be easy to corner the market when you’re creating the same product as other nearby stores.
If you don’t have a firm idea of what your business will entail, ask yourself the following questions:
- What do you love to do?
- What do you hate to do?
- Can you think of something that would make those things easier?
- What are you good at?
- What do others come to you for advice about?
- If you were given ten minutes to give a five-minute speech on any topic, what would it be?
- What’s something you’ve always wanted to do, but lacked resources for?
These questions can lead you to an idea for your business. If you already have an idea, they might help you expand it. Once you have your idea, measure it against whether you’re good at it and if it’s profitable.
Your business idea also doesn’t have to be the next Scrub Daddy or Squatty Potty. Instead, you can take an existing product and improve upon it. You can also sell a digital product so there’s little overhead.
What Kind of Business Should You Start?
Before you choose the type of business to start, there are some key things to consider:
- What type of funding do you have?
- How much time do you have to invest in your business?
- Do you prefer to work from home or at an office or workshop?
- What interests and passions do you have?
- Can you sell information (such as a course), rather than a product?
- What skills or expertise do you have?
- How fast do you need to scale your business?
- What kind of support do you have to start your business?
- Are you partnering with someone else?
- Does the franchise model make more sense to you?
Consider Popular Business Ideas
Not sure what business to start? Consider one of these popular business ideas:
- Start a Franchise
- Start a Blog
- Start an Online Store
- Start a Dropshipping Business
- Start a Cleaning Business
- Start a Bookkeeping Business
- Start a Clothing Business
- Start a Landscaping Business
- Start a Consulting Business
- Start a Photography Business
- Start a Vending Machine Business
Most entrepreneurs spend more time on their products than they do getting to know the competition. If you ever apply for outside funding, the potential lender or partner wants to know: what sets you (or your business idea) apart? If market analysis indicates your product or service is saturated in your area, see if you can think of a different approach. Take housekeeping, for example—rather than general cleaning services, you might specialize in homes with pets or focus on garage cleanups.
Primary Research
The first stage of any competition study is primary research, which entails obtaining data directly from potential customers rather than basing your conclusions on past data. You can use questionnaires, surveys and interviews to learn what consumers want. Surveying friends and family isn’t recommended unless they’re your target market. People who say they’d buy something and people who do are very different. The last thing you want is to take so much stock in what they say, create the product and flop when you try to sell it because all of the people who said they’d buy it don’t because the product isn’t something they’d buy.
Secondary Research
Utilize existing sources of information, such as census data, to gather information when you do secondary research. The current data may be studied, compiled and analyzed in various ways that are appropriate for your needs but it may not be as detailed as primary research.
Conduct a SWOT Analysis
SWOT stands for strengths, weaknesses, opportunities and threats. Conducting a SWOT analysis allows you to look at the facts about how your product or idea might perform if taken to market, and it can also help you make decisions about the direction of your idea. Your business idea might have some weaknesses that you hadn’t considered or there may be some opportunities to improve on a competitor’s product.
![retail shop business plan example](https://thumbor.forbes.com/thumbor/fit-in/x/https://www.forbes.com/advisor/wp-content/uploads/2022/10/image1-5.png)
Asking pertinent questions during a SWOT analysis can help you identify and address weaknesses before they tank your new business.
A business plan is a dynamic document that serves as a roadmap for establishing a new business. This document makes it simple for potential investors, financial institutions and company management to understand and absorb. Even if you intend to self-finance, a business plan can help you flesh out your idea and spot potential problems. When writing a well-rounded business plan, include the following sections:
- Executive summary: The executive summary should be the first item in the business plan, but it should be written last. It describes the proposed new business and highlights the goals of the company and the methods to achieve them.
- Company description: The company description covers what problems your product or service solves and why your business or idea is best. For example, maybe your background is in molecular engineering, and you’ve used that background to create a new type of athletic wear—you have the proper credentials to make the best material.
- Market analysis: This section of the business plan analyzes how well a company is positioned against its competitors. The market analysis should include target market, segmentation analysis, market size, growth rate, trends and a competitive environment assessment.
- Organization and structure: Write about the type of business organization you expect, what risk management strategies you propose and who will staff the management team. What are their qualifications? Will your business be a single-member limited liability company (LLC) or a corporation ?
- Mission and goals: This section should contain a brief mission statement and detail what the business wishes to accomplish and the steps to get there. These goals should be SMART (specific, measurable, action-orientated, realistic and time-bound).
- Products or services: This section describes how your business will operate. It includes what products you’ll offer to consumers at the beginning of the business, how they compare to existing competitors, how much your products cost, who will be responsible for creating the products, how you’ll source materials and how much they cost to make.
- Background summary: This portion of the business plan is the most time-consuming to write. Compile and summarize any data, articles and research studies on trends that could positively and negatively affect your business or industry.
- Marketing plan: The marketing plan identifies the characteristics of your product or service, summarizes the SWOT analysis and analyzes competitors. It also discusses how you’ll promote your business, how much money will be spent on marketing and how long the campaign is expected to last.
- Financial plan: The financial plan is perhaps the core of the business plan because, without money, the business will not move forward. Include a proposed budget in your financial plan along with projected financial statements, such as an income statement, a balance sheet and a statement of cash flows. Usually, five years of projected financial statements are acceptable. This section is also where you should include your funding request if you’re looking for outside funding.
Learn more: Download our free simple business plan template .
Come Up With an Exit Strategy
An exit strategy is important for any business that is seeking funding because it outlines how you’ll sell the company or transfer ownership if you decide to retire or move on to other projects. An exit strategy also allows you to get the most value out of your business when it’s time to sell. There are a few different options for exiting a business, and the best option for you depends on your goals and circumstances.
The most common exit strategies are:
- Selling the business to another party
- Passing the business down to family members
- Liquidating the business assets
- Closing the doors and walking away
Develop a Scalable Business Model
As your small business grows, it’s important to have a scalable business model so that you can accommodate additional customers without incurring additional costs. A scalable business model is one that can be replicated easily to serve more customers without a significant increase in expenses.
Some common scalable business models are:
- Subscription-based businesses
- Businesses that sell digital products
- Franchise businesses
- Network marketing businesses
Start Planning for Taxes
One of the most important things to do when starting a small business is to start planning for taxes. Taxes can be complex, and there are several different types of taxes you may be liable for, including income tax, self-employment tax, sales tax and property tax. Depending on the type of business you’re operating, you may also be required to pay other taxes, such as payroll tax or unemployment tax.
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When structuring your business, it’s essential to consider how each structure impacts the amount of taxes you owe, daily operations and whether your personal assets are at risk.
An LLC limits your personal liability for business debts. LLCs can be owned by one or more people or companies and must include a registered agent . These owners are referred to as members.
- LLCs offer liability protection for the owners
- They’re one of the easiest business entities to set up
- You can have a single-member LLC
- You may be required to file additional paperwork with your state on a regular basis
- LLCs can’t issue stock
- You’ll need to pay annual filing fees to your state
Limited Liability Partnership (LLP)
An LLP is similar to an LLC but is typically used for licensed business professionals such as an attorney or accountant. These arrangements require a partnership agreement.
- Partners have limited liability for the debts and actions of the LLP
- LLPs are easy to form and don’t require much paperwork
- There’s no limit to the number of partners in an LLP
- Partners are required to actively take part in the business
- LLPs can’t issue stock
- All partners are personally liable for any malpractice claims against the business
Sole Proprietorship
If you start a solo business, you might consider a sole proprietorship . The company and the owner, for legal and tax purposes, are considered the same. The business owner assumes liability for the business. So, if the business fails, the owner is personally and financially responsible for all business debts.
- Sole proprietorships are easy to form
- There’s no need to file additional paperwork with your state
- You’re in complete control of the business
- You’re personally liable for all business debts
- It can be difficult to raise money for a sole proprietorship
- The business may have a limited lifespan
Corporation
A corporation limits your personal liability for business debts just as an LLC does. A corporation can be taxed as a C corporation (C-corp) or an S corporation (S-corp). S-corp status offers pass-through taxation to small corporations that meet certain IRS requirements. Larger companies and startups hoping to attract venture capital are usually taxed as C-corps.
- Corporations offer liability protection for the owners
- The life span of a corporation is not limited
- A corporation can have an unlimited number of shareholders
- Corporations are subject to double taxation
- They’re more expensive and complicated to set up than other business structures
- The shareholders may have limited liability
Before you decide on a business structure, discuss your situation with a small business accountant and possibly an attorney, as each business type has different tax treatments that could affect your bottom line.
Helpful Resources
- How To Set Up an LLC in 7 Steps
- How To Start a Sole Proprietorship
- How To Start a Corporation
- How To Start a Nonprofit
- How To Start a 501(c)(3)
There are several legal issues to address when starting a business after choosing the business structure. The following is a good checklist of items to consider when establishing your business:
Choose Your Business Name
Make it memorable but not too difficult. Choose the same domain name, if available, to establish your internet presence. A business name cannot be the same as another registered company in your state, nor can it infringe on another trademark or service mark that is already registered with the United States Patent and Trademark Office (USPTO).
Business Name vs. DBA
There are business names, and then there are fictitious business names known as “Doing Business As” or DBA. You may need to file a DBA if you’re operating under a name that’s different from the legal name of your business. For example, “Mike’s Bike Shop” is doing business as “Mike’s Bikes.” The legal name of the business is “Mike’s Bike Shop,” and “Mike’s Bikes” is the DBA.
You may need to file a DBA with your state, county or city government offices. The benefits of a DBA include:
- It can help you open a business bank account under your business name
- A DBA can be used as a “trade name” to brand your products or services
- A DBA can be used to get a business license
Register Your Business and Obtain an EIN
You’ll officially create a corporation, LLC or other business entity by filing forms with your state’s business agency―usually the Secretary of State. As part of this process, you’ll need to choose a registered agent to accept legal documents on behalf of your business. You’ll also pay a filing fee. The state will send you a certificate that you can use to apply for licenses, a tax identification number (TIN) and business bank accounts.
Next, apply for an employer identification number (EIN) . All businesses, other than sole proprietorships with no employees, must have a federal employer identification number. Submit your application to the IRS and you’ll typically receive your number in minutes.
Get Appropriate Licenses and Permits
Legal requirements are determined by your industry and jurisdiction. Most businesses need a mixture of local, state and federal licenses to operate. Check with your local government office (and even an attorney) for licensing information tailored to your area.
- Best LLC Services
- How To Register a Business Name
- How To Register a DBA
- How To Get an EIN for an LLC
- How To Get a Business License
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Open a Business Bank Account
Keep your business and personal finances separate. Here’s how to choose a business checking account —and why separate business accounts are essential. When you open a business bank account, you’ll need to provide your business name and your business tax identification number (EIN). This business bank account can be used for your business transactions, such as paying suppliers or invoicing customers. Most times, a bank will require a separate business bank account to issue a business loan or line of credit.
Hire a Bookkeeper or Get Accounting Software
If you sell a product, you need an inventory function in your accounting software to manage and track inventory. The software should have ledger and journal entries and the ability to generate financial statements.
Some software programs double as bookkeeping tools. These often include features such as check writing and managing receivables and payables. You can also use this software to track your income and expenses, generate invoices, run reports and calculate taxes.
There are many bookkeeping services available that can do all of this for you, and more. These services can be accessed online from any computer or mobile device and often include features such as bank reconciliation and invoicing. Check out the best accounting software for small business, or see if you want to handle the bookkeeping yourself.
Determine Your Break-Even Point
Before you fund your business, you must get an idea of your startup costs. To determine these, make a list of all the physical supplies you need, estimate the cost of any professional services you will require, determine the price of any licenses or permits required to operate and calculate the cost of office space or other real estate. Add in the costs of payroll and benefits, if applicable.
Businesses can take years to turn a profit, so it’s better to overestimate the startup costs and have too much money than too little. Many experts recommend having enough cash on hand to cover six months of operating expenses.
When you know how much you need to get started with your business, you need to know the point at which your business makes money. This figure is your break-even point.
In contrast, the contribution margin = total sales revenue – cost to make product
For example, let’s say you’re starting a small business that sells miniature birdhouses for fairy gardens. You have determined that it will cost you $500 in startup costs. Your variable costs are $0.40 per birdhouse produced, and you sell them for $1.50 each.
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Industry Analysis. The retail industry in the United States is valued at over $4T currently and is forecasted to reach $4.9T by the end of 2022. This is up from $3.8T in 2019. After a decade of retail decline between 2010 and 2020, the market is rebounding at a surprising rate.
An example of a Use of funds slide for a retail store ( source) 2. Business Overview. The business overview is essentially the company description. The second section of your business plan, it should cover the following for a retail store: The products you will sell in your store. The price range of the products.
Thank you for reading this article on Retail Business Plan. We recommend the below free resources as well: Retail Management; Starting a Retail Business; Buying a Retail Business; Join the academy and get all access to all our resources, which will help you manage your retail business more efficiently.
Retail Business Plan Template. Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow their retail and online stores. On this page, we will first give you some background information with regards to the importance of business planning.
Research suggests total retail sales in the United States were projected to amount to 6.03 trillion U.S. dollars in 2022, up from around 5.4 trillion U.S. dollars in 2018, according to the National Retail Federation. Retail businesses come in many forms such as grocery stores, restaurants, and bookstores.
Children's Website Business Plan. Cigar Manufacturing Business Plan. E-commerce Internet Business Plan. E-Commerce Retailer Business Plan. E-Commerce Start-Up Business Plan. Ecommerce Fabric Store Business Plan. Fish Breeder Business Plan. Home, Garden Gifts Online Business Plan. Horse Reseller Business Plan.
A retail business plan includes an executive summary, market analysis, business description, organization and management structure, details of product or service offerings, marketing and sales strategy, financial projections and an appendix. It's a structured document that outlines your business goals and your financial expectations.
Provide a company description. Your company description is one of the most important aspects of your retail business plan. This section should reflect how you want people to envision your business. It should include the logo, concept, ownership and business structure, design, and layout. Think of a retail shop that you enjoy.
A retail business plan form is an easy to edit business plan to help you get your retail business plotted out. Regardless of whether you plan to get a business loan or seek out investors, a retail business plan can help you come up with a plan to follow. It explains not just where your business will be located, but will also discuss what you'll ...
1. The executive summary. Writing the executive summary section of a retail store business plan requires a great deal of thought and consideration. The executive summary should provide a comprehensive overview that highlights the key components of the business plan, including the goals and objectives. The executive summary should start with a ...
The following retail store business plan template gives you the key elements to include in a winning plan for your own retail business. It can be used to create a business plan for a clothing store, an electronics store, a shoe store, or any other type of retail business. In addition to this template, conducting market research for your ...
Our free retail shop business plan template is designed to simplify the process of creating a basic and comprehensive business plan, even if you don't have extensive experience with financial modeling. Our template provides a complete example of a retail business plan complete each section of your plan. You can also use a retail shop financial ...
Here are three things to consider as part of your business planning process: 1. Location, location, location. For shops and retail companies, whether you're opening a community greengrocer or an exclusive boutique, one of the most important aspects of your business model is your location. Pulling a plan together will encourage you to think ...
6. Real-time and Collaborative. Invite your team members to initiate conversations, discuss ideas and strategies in real-time, share respective feedback, and write your business plan. Join over 100k+ entrepreneurs who have used Upmetrics to create their business plans. Start writing your business plan today.
For example, if the online store will only earn 1% of overall sales, you should choose the storefront-based business plan template. Product-based Retail Storefront Template. This template is for a retail business with a storefront that primarily sells products rather than services to customers.
Here are three business plan examples for the retail industry: Fuel & Flee is a convenience store and gas station. Buy Right is a large footprint franchised grocery store. Green Groves is a zero waste concept store targeting eco-conscious consumers.
Number 1: Walmart. Walmart is number one in the list of the top retailers with the most revenue for the year 2019-2020. They are on this spot because of their $523.96 billion revenue that's more than half of the $900 billion retail markets.
7 business plan examples: section by section. The business plan examples in this article follow this template: Executive summary. An introductory overview of your business. Company description. A more in-depth and detailed description of your business and why it exists. Market analysis.
Our free business plan template includes seven key elements typically found in the traditional business plan format: 1. Executive summary. This is a one-page summary of your whole plan, typically written after the rest of the plan is completed. The description section of your executive summary will also cover your management team, business ...
Business Plan. Creating a comprehensive business plan is crucial for launching and running a successful sporting goods store. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your sporting goods store's identity, navigate the competitive market, and secure funding for growth.
Logistics and operations plan. Financials. Startup. A startup business plan is meant to secure outside funding for a new business. Typically, there's a big focus on the financials, as well as other sections that help determine the viability of your business idea—market analysis, for example.
The best way to accomplish any business or personal goal is to write out every possible step it takes to achieve the goal. Then, order those steps by what needs to happen first. Some steps may ...
Provide a company description. Your company description is one of the most important aspects of your retail business plan. This section should reflect how you want people to envision your business. It should include the logo, concept, ownership and business structure, design, and layout. Think of a retail shop that you enjoy.
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The Moscow oblast is the most highly developed and most populated region in Russia. There was a legend that Moscow was built upon seven hills, just like Rome, was exaggerated, and the truth is that there are a only few small hills in and around the city center. In the southwest corner of the city, there is an upland region, called the ...
Download the list of Discount supermarkets in Elektrostal'. Smartscrapers provides an accurate directory and the latest data on the number of Discount supermarkets in Elektrostal'
Number of Bird shops in Elektrostal' List of Bird shops in Elektrostal' with email address, phone number, geocoded address, and other key details for download. Data updated on December 5, 2023
Sacramento Business Journal. Home. News. Lists & Leads. People. Companies. Events. Store. A new state law impacting businesses is taking effect next month.
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