Writing Your Business Plan

1.Make sure it is something you know something about, and like 2.First you need to know what type of business it is...

Start by describing your business. Here are some basic business types. Which one will yours be? Retail Retail businesses buy merchandise (things) from wholesalers and sell it directly to consumers (people). Most retailers take in goods and mark up the price. It may be from 20% to 100+% If you have this type of business you will have to figure out what your mark up will be.

Start by describing your business Here are some basic business types which one will yours be? Retail Wholesaler Delivers Store owner marks up cost Items are sold to the public for a profit Some retailers repair the items sold if there are problems others do not, name a few that do.

Another basic business type. Which one will yours be? Wholesale Wholesalers buy merchandise from manufacturers, usually many different things. They normally don’t sell to consumers. They make deliveries to retail stores and offer credit to store owners, they buy large amounts and sell smaller amounts and usually make 15% to 33% profit they have large warehouses

Another basic business type. Which one will yours be? Wholesale Manufacturer makes it Wholesaler buys large quantities of varied items

Another basic business type which one will yours be? Wholesale Wholesaler delivers and sells to retailers

Another basic business type which one will yours be? Service People with a particular skill sell it to the consumers, or to other businesses for a price. They may have many employees or few. It can be advise, information, or a task. Customers are usually referrals or repeats, What service industries can you think of

Another Basic Business Type Which one will yours be? Service Hair stylistsArchitects Carpet Cleaners

Another Basic Business Type Which one will yours be? Manufacturing Manufacturers take raw materials and assemble them into products to be used by consumers. They range from simple artisans to big companies like General Motors The hard part is finding a product to sell.

Now that you know your business type... You will need to know what useful thing you do for your customers. This part of the business plan is called the problem statement. You need to think about your customers. Why will they want your product or service??

For Example A delivery based laundry service would solve the problem, of time spent on household chores for families with two parents working or a single working parent. There would be no inconvenience of taking laundry to the laundry matt, or taking it to and picking it up from the dry cleaners.

Your Task Write a brief problem statement, It should be at least one paragraph. It should tell what the customer need you are solving is and how you will solve it. You must explain who your customers are in general terms.