Starting your own start-up company, you will need direction that only a business plan can give. But of course, writing a business plan is not as easy as logging into Facebook and writing your status. You need to clearly map out the items you would want to say. We give you some if the important facts you would need to create.
Begin first with an executive summary. Right after the title page, you should tell the readers — be it yourself or a prospective financier —- what you want. What you want for your business to look like, what you will envision for it, and what it will be, The business plan will answer a comprehensive list of questions, so beginning with the question what you want and where do you want your business to go will automatically capture (or in some cases lose) your readers attention.
Have a business description. Study the market and the industry. Describe what is the present position of the bubble tea industry and what you think it may stand on the next few years, If you can, five out facts about the various target markets of the bubble tea industry; these may also include new products bought about by the competition and new developments.
Lay out your market strategy. Having made a report about the bubble milk tea industry, it is now time to define your target market. Know who are the customers, and their demographic or even psychographic profile? What are your customers’ needs? Apart from this develop also a plan on how you can reach out to your consumers. Think of promotional methods and marketing channels you will employ.
Figure out your competitive analysis. Think of your competitors and make sure to list down the strengths and weaknesses of the competition and what areas have you gained advantage over them. This strategy will give you a unique perspective, one that will work to your advantage as you will know what limits you can develop to prevent your competition from infiltrating your target consumers.
Plan your operations and management strategy. Describe how you think your business will function on a daily basis. Highlight the logistics of your company and list down the tasks assigned to your staff and management team.
Check your financial data/ Financial factors are often in the end of the business plan. It will include funding (both internal and external) on how you will build your business. Write down as well the projected revenues and assets you must acquire.