Tuesday, March 12, 2019

small business plan

small business plan

U.S. Small Business Administration to host business planning workshop - Valley morning Star

Posted: 12 Mar 2019 07:16 PM PDT

HARLINGEN — Did you recently create a business or are you planning to start one?

The U.S. Small Business Administration in partnership with The Women's Business Center Rio Grande Valley will host a free business planning workshop at the SBA lower RGV District Office on Friday from 9 to 11 a.m.

The workshop will provide information on the power of business planning and is the third workshop in a series of 10 specifically developed for local small entrepreneurs.

In the workshop, attendees will learn how to use their business plan as a roadmap for structuring, running and growing their new business.

Women's Business Center RGV Business counselor Elizabeth Charles will be the presenter of the workshop.

According to Charles, a lot of individuals get started with a business without planning and end up failing.

"They 're kind of lost in the sense that they don't really know what it is that they need to get started," Charles said. "So, in this workshop we're going to be able to understand what those strengths and weaknesses are of your business idea, identify the key components of a business plan and define the focus of the business objectives that are going to be applicable for your business."

The overall goal of the workshops are to help local entrepreneurs gain an understanding of what it takes to get their business started and to help prevent them from failing in the business realm.


US small businesses plan 2019 hiring spree with eye to 'customer growth' roles - HR Dive

Posted: 12 Mar 2019 07:22 AM PDT

Where to Find Hundreds of Business Plan Examples - Business 2 Community

Posted: 12 Mar 2019 09:34 AM PDT

Whether you want to create the next unicorn startup or lay the groundwork for a successful and sustainable business, the process starts with your business plan.

Every business plan should include the following elements:

  • Executive Summary: Start off with an overview of your company's purpose and goals, and why you believe it will be successful.
  • Company Overview and Objectives: Now you can take a deep dive into the problem your company wants to solve, how it will do so, and any competitive advantages it has.
  • Market Opportunities: This is the evaluation of your target market, target audience, market trends, and competition.
  • Marketing and Sales: Explain how you plan to grow and market your company.
  • Management Team and Operations: Here's where you explain who will lead your company and how it will be structured.
  • Financial Analysis: Include forecasted expenditures, income, cash flow, etc. Break your projections down by quarter or month. If your business is already running, include things like your balance sheet, income statement, cash-flow statement, operating budget, etc.
  • Funding Request: If you're going after funding, explain how much you'll need and what you'll need it for, in detail. Clarify how far in terms of months or years this funding will carry you. Don't forget to include how you plan to pay back this debt down the road.
  • Appendix: This is where you include supporting materials such as résumé s, images, credit history, patents, permits, licenses, letters of reference, etc.

While knowing what to include is incredibly helpful, what can be even more helpful is seeing some examples of actual business plans.

Examples can give you the inspiration you need as you start writing your own business plan.

Here are my favorite resources that showcase really good business plans.

1. Bplans

At Bplans, you'll find more than 500 business-plan samples tailored to specific industries, including:

  • Online and offline retail stores
  • Services
  • Medical and health care
  • Restaurants, cafés, and bakeries
  • Pet services
  • Consulting
  • Beauty salons and day spas
  • Manufacturing
  • And many more

2. LivePlan

LivePlan is another place you can find some inspiration to write your own business plan.

It has hundreds of examples across industries.

It also have 10 professionally designed themes that you can use to make your business plan look extra polished.

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3. ACCA Global

ACCA Global has three downloadable, fictional business plans.

You'll find one for an airport café, another for a stone-importing business, and a third for a fuel-efficiency business.

4. U.S. Small Business Administration

The U.S. Small Business Administration offers a complete guide to business plans, as well as a deep dive into the difference between a traditional business plan and a lean-startup business plan.

Discover a traditional business plan for a consulting firm, and a lean-startup business plan for a toy company.

The U.S. Small Business Administration also connects you with free business-plan counselors if you need further guidance.

5. Shopify

There's only one sample business plan here, but it's a good one.

Shopify created a sample business plan for a fictional organic denim and apparel company, and it's definitely worth a look.

Now that you've got some ideas and inspiration, you can make a unique business plan for your company by communicating your unique vision for your product, your target audience, and your go-to-market strategy.

Originally Published on Inc.com

Small business owners: Whitmer tax plan unfair - WNEM Saginaw

Posted: 11 Mar 2019 03:41 PM PDT

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How to Start a Nail Salon Business - Small Business Trends

Posted: 12 Mar 2019 06:00 AM PDT

U.S. nail salons bring in more than $5 billion in revenue annually. These specialty beauty salons have been around for years. But the industry is still growing, meaning there are plenty of opportunities for new entrepreneurs to break in and offer unique services and experiences. If you're interested in getting started with your very own nail salon, here's a breakdown of the steps involved.

How to Start a Nail Salon

Create a Plan for Your Business

Meg King, salon and spa consultant for Empowering You Consulting said in an email to Small Business Trends, "The first step is to spend time creating a clear vision of your business. Yes, it should include how many stations, your menu of services, a detailed list of what you need along with what it will cost you to open. But another important step in creating a clear vision… one that is often overlooked, includes answers to these questions. What do you really want? How would do you define the culture you want to have in your business? What type of team members do you want to hire? Who's your ideal client? The clearer we are on all the details the better we can manage our business plan for success."

If you're not sure where to start with your nail salon business plan, you might check out the Professional Beauty Association's business blueprints, which are customizable plan templates available to association members.

Make Industry Connections

Ideally, some form of state-approved education and experience in a successful salon before jumping into your own business. You might also consider connecting with an industry consultant or finding a mentor who can help you understand what the day-to-day operations of a functioning nail salon look like. Groups or trade organizations like PBA can also help you gain valuable insights about the industry as a whole.

Obtain Permits and Licenses

The legal requirements for nail salons vary by location. But you're likely to need a building permit, business license and state-approved training in order to officially open your business. If you're not sure what is required in your area, connect with a local business attorney or check with your local government.

Analyze Your Finances

PBA Brand Manager Erin Walter said in an email interview with Small Business Trends, "There are numerous financial considerations to take in to account when looking at opening a business and it can be helpful to meet with a financial planner to navigate through some potential obstacles."

Specifically, you'll need to determine what you can afford in startup costs, what your business expenses will be and how much you think you can earn on an ongoing basis. Some of PBA's business blueprints also offer insights into financial considerations like budgeting, compensation and credit card policies.

Find a Suitable Location

Before you can put many of the other aspects of your business into place, you'll need to find a location for your shop. Ideally, it should be someplace centrally located and easily accessible for your target customers. However, this will also depend on your budget and space requirements.

Create a Service and Price List

Nail salon prices and services can vary widely. You might stick with just the basic manicure and pedicure, but you could also offer artificial nails, gel manicures, arm massages or various other spa services to your menu. Carefully consider what you and your staff will be able to provide and do some research on pricing to help you create a full menu of services.

Source Supplies

For a nail salon, you'll likely need chairs, tables, nail polish, sanitation equipment, and various spa supplies. You may also want to carry a small inventory of nail products that customers can purchase. Shop around with various brands for your nail salon equipment and inventory so you can get the best possible value, while also considering the items that are likely to be most popular with your target customers.

Set Up Administration Processes

The day-to-day operations of your business will be significantly easier if you put processes into place early. Determine how you'll schedule appointments, collect payments, manage payroll and nurture relationships with customers. Put software and other tools in place to make these things easier so when you get up and running, you can easily show your team how everything should be run.

Hire Nail Techs

Most nail salons have multiple nail technicians or other specialists on staff so they can offer services to multiple customers at once. You'll want to find people who are trained and skilled in their area of expertise. But don't forget to take personality into account as well. The conversations that take place during manicure and pedicure services are often a huge part of the customer experience. So you'll need to look for people who are able to provide exceptional service to your target customers.

Promote Your Services Locally

When all those items are in place, you need to start actually promoting your business around your local community so potential customers can find you. Place local ads online or in print. You might also consider getting on social media and using some special events or promotions to build buzz early on.

Image: Depositphotos.com

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