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Business Plans Handbook - Gale
Business Plans Handbook
Business Plans Handbook, A Compilation of Business Plans Developed by Individuals Throughout North America
ISBN-13: 9781410365354
© 2017 Gale, Cengage Learning
While every effort has been made to ensure the reliability of the information presented in this publication, Gale, a part of Cengage Learning, does not guarantee the accuracy of the data contained herein. Gale accepts no payment for listing; and inclusion in the publication of any organization, agency, institution, publication, service, or individual does not imply endorsement of the editors or publisher. Errors brought to the attention of the publisher and verified to the satisfaction of the publisher will be corrected in future editions.
ALL RIGHTS RESERVED. No part of this work covered by the copyright herein may be reproduced or distributed in any form or by any means, except as permitted by U.S. copyright law, without the prior written permission of the copyright owner.
This publication is a creative work fully protected by all applicable copyright laws, as well as by misappropriation, trade secret, unfair competition, and other applicable laws. The authors and editors of this work have added value to the underlying factual material herein through one or more of the following: unique and original selection, coordination, expression, arrangement, and classification of the information.
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Gale, a part of Cengage Learning
27500 Drake Rd.
Farmington Hills, MI 48331-3535
Printed in the United States of America
1 2 3 4 5 6 7 20 19 18 17 16
Contents
Highlights
Introduction
Business Plans
Fran's Ice
SunnyScoops
Anna's Homemade Ice Cream Inc.
Appendixes
Appendix A
Business Plan Template
Appendix B
Associations
Consultants
SBA Regional Offices
Small Business Development Centers
Service Corps of Retired Executives Offices
Venture Capital & Financing Companies
Appendix C
Glossary of Small Business Terms
Highlights
Business Plans Handbook (BPH) is a collection of business plans compiled by entrepreneurs seeking funding for small businesses throughout North America. For those looking for examples of how to approach, structure, and compose their own business plans, this volume presents sample plans for the following businesses:
Fran's Ice
SunnyScoops
Anna's Homemade Ice Cream Inc.
Features and Benefits
This volume offers many features not provided by other business planning references including:
Business plans that represent an attempt at clarifying (for themselves and others) the reasons that the business should exist or expand and why a lender should fund the enterprise.
Extensive financial documentation required to solicit funding from small business lenders. You will find examples of Cash Flows, Balance Sheets, Income Projections, and other financial information included with the textual portions of the business plans.
A directory section that includes listings for venture capital and finance companies, which specialize in funding start-up and second-stage small business ventures, and a comprehensive listing of Service Corps of Retired Executives (SCORE) offices. In addition, the Appendix also contains updated listings of all Small Business Development Centers (SBDCs); associations of interest to entrepreneurs; Small Business Administration (SBA) Regional Offices; and consultants specializing in small business planning and advice. It is strongly advised that you consult supporting organizations while planning your business, as they can provide a wealth of useful information.
A Small Business Term Glossary to help you decipher the sometimes confusing terminology used by lenders and others in the financial and small business communities.
A Business Plan Template which serves as a model to help you construct your own business plan. This generic outline lists all the essential elements of a complete business plan and their components, including the Summary, Business History and Industry Outlook, Market Examination, Competition, Marketing, Administration and Management, Financial Information, and other key sections. Use this guide as a starting point for compiling your plan.
Introduction
Perhaps the most important aspect of business planning is simply doing it. More and more business owners are beginning to compile business plans even if they don't need a bank loan. Others discover the value of planning when they must provide a business plan for the bank. The sheer act of putting thoughts on paper seems to clarify priorities and provide focus. Sometimes business owners completely change strategies when compiling their plan, deciding on a different product mix or advertising scheme after finding that their assumptions were incorrect. This kind of healthy thinking and re-thinking via business planning is becoming the norm. The editors of Business Plans Handbook (BPH) sincerely hope that this publication is a helpful tool in the successful completion of your business plan, no matter what the reason for creating it.
New Business Opportunities
This publication offers business plans created by real people. BPH provides actual business plans written by entrepreneurs engaged in creative endeavors within the same industry. The business and personal names and addresses and general locations have been changed to protect the privacy of the plan authors.
Comprehensive financial documentation has become increasingly important as today's entrepreneurs compete for the finite resources of business lenders. Our plans illustrate the financial data generally required of loan applicants, including Income Statements, Financial Projections, Cash Flows, and Balance Sheets.
Enhanced Appendixes
In an effort to provide the most relevant and valuable information for our readers, we have updated the coverage of small business resources. For instance, you will find a directory section, which includes listings of all of the Service Corps of Retired Executives (SCORE) offices; Small Business Development Centers (SBDCs); Small Business Administration Regional Offices; venture capital and finance companies, which specialize in funding start-up and second-stage small business enterprises; associations of interest to entrepreneurs; and consultants, specializing in small business advice and planning. In addition, you will find a comprehensive glossary of business terms to help the small business planner navigate the sometimes confusing language of entrepreneurship. For your reference, we have also reprinted a business plan template used by small business counselors, which provides a comprehensive overview of the essential components of a business plan.
Comments Welcome
Your comments on Business Plans Handbook are appreciated. Please direct all correspondence, suggestions for future volumes of BPH, and other recommendations to the following:
Project Editor
Business Plans Handbook
Gale, a part of Cengage Learning
27500 Drake Rd.
Farmington Hills, MI 48331-3535
Phone: (248)699-4253
Toll-Free: 800-877-GALE
www.gale.com
Fran's Ice
Davis Plaza Regional Mall
19 Orchard Avenue
Davis, CA 95616
January 1996
This business plan details a franchise ice cream shop located in a California shopping center. Fran's Ice anticipates continued success due to its superb location, diverse menu, and well-known quality product
INTRODUCTION
The purpose of this business plan is to outline the parameters under which the principals will pursue the construction, development and operation of a franchised Fran's Ice Cream Shoppe in a key location at the mall entrance to the food court of Davis Plaza, a successful, dominant, super regional shopping center in metropolitan Woodland - Sacramento.
Davis Plaza's management company, Martin Richardson and the franchisor, the Fran's Ice Shoppe Company, Inc., are optimistic and enthusiastic about locating a high-volume shop within Davis Plaza.
Martin Richardson, The Fran's Ice Shoppe Company, Inc., and the franchisees, Augustus and Cheryl Dwyer, are all confident that this Fran's shop will be successful among the other national stores already committed to doing business in Davis Plaza.
EXECUTIVE SUMMARY
The Fran's Ice Shoppe of Davis (franchisee), will construct, develop and operate a licensed franchised ice cream dipping shop of The Fran's Ice Shoppe Company, Inc. (franchisor). This single retail dipping shop will sell Fran's ice cream and related products, all manufactured by the franchisor under its name.
Revenue will be primarily from the sale of hand-dipped ice cream and related products consumed within Davis Plaza. Franchisees will also sell ice cream cakes, traditional gourmet cakes, birthday cakes and Cola products. Sales are anticipated to be $360,000 in the first year and to increase at an average annual rate of 4% per year in the first five years of operation.
The franchise will be located in Davis Plaza in Davis, California. Because of its location in the center of the Woodland - Sacramento areas, Davis Plaza serves many communities and is commonly considered the Tri-Cities' premier retail facility. Davis Plaza, which opened in 1968, is a two-level, enclosed regional shopping center containing a total of 1.2 million square feet and 200 stores, shops and food service establishments. The Plaza is anchored by Hank's, B.P.'s, and Westbury's. Fran's Ice Shoppe of Davis will be located in The Outdoorum
which is Davis Plaza's 40,000 square foot food court containing 17 food service establishments including Cheese Pleese, Beefeaters, and Sweet Dreams.
Franchisee's primary customers will be drawn from Davis Plaza's 1994 trade area population of over 853,000 people, which is projected to reach 940,000 people by 1999. Customers shopping The Plaza will purchase Fran's handdipped ice cream and other products on an impulse basis during their shopping trip, or as a dessert treat upon completing a meal at The Outdoorum. Franchisee also anticipates that many patrons will make the shop their primary destination due to name recognition and product quality. Except for a small Earl's Ice Cream Shop and a Frozen Treat selling soft serve vanilla only, there is no other competition within Davis Plaza, and no outside competition within 2 miles of The Plaza.
The principals will be managing their own shop. Augustus Dwyer will be the hands-on manager for daily operations. Cheryl Dwyer will retain her present position as a nurse clinician for J. Landers, but will assist with her employee management and accounting skills. In addition, approximately six to ten school and/or college students will be hired to work shifts during peak sales periods. Other part-time employees may be hired on an as needed
basis for special projects such as cake decorating, preparing large orders for caterers and servicing of other special functions.
Project costs are projected to be $250,000 which includes leasehold improvements (build out of the shop), equipment purchases, opening inventory, and working capital needs. This amount does not include the $35,000 franchise fee, $3500 Fran's grand opening contribution, or $7870 cost of architect's plans for the store which Gus and Cheryl Dwyer have already invested in this business from their own funds. The principals are seeking to finance the remainder of this project through a local lending institution using the assistance of a Small Business Administration (SBA) guarantee, with an agreement that allows for loan repayment over 10 years.
Based on a preliminary timetable it is anticipated that the shop will be operational for business no later than April, 1, 1996.
FACT SHEET
Other Noteworthy Facts:
A 2.5 gallon tub of ice cream from Fran's costs $29.00 ($11.60 gal.)
From a 2.5 gallon tub come 724 oz. scoops which sell for from $1.50 to $l.95 a scoop. Therefore a tub will sell for $108 to $140.
Average ticket for a Fran's shop runs around $2.30.
DESCRIPTION OF THE BUSINESS/OBJECTIVES
The Fran's Ice Shoppe of Montclair (Shoppe), will be a franchised operation of The Fran's Ice Shoppe Company, Inc. licensed to sell Fran's ice cream and related products. The Fran's name has been associated with the ice cream business since 1961. The Company manufactures a large and growing volume of Fran's products which it distributes through a variety of channels. The ice cream ordinarily is not sold for retail dipping except to franchised dipping shops.
The Franchisor is Connecticut Corporation, with principal offices in New Haven, C.T. The ultimate parent of the company is Drake PLC, a public corporation listed on the London Stock Exchange, via ownership of The Harley Company.
Franchisees have been granted a license to sell certain ice cream products under the Fran's name since 1977, although the franchisor has been conducting a business of the type operated by the franchisee since 1983. Affiliates of the franchisor are actively engaged in various other sectors of the food service industry, including fast service restaurants, theme restaurants, food service supply business, institutional and retail food production, distribution and sales and food commodity transactions.
The main items for sale will be hand dipped ice cream and yogurt cups/cones, sundaes finished with a variety of toppings such as hot fudge, caramel, butterscotch or fruit, banana splits shakes malts, and ice cream sodas and floats. Most of these items will be consumed immediately on the premises. Davis Plaza provides extensive indoor seating for the food court customers.
In addition to hand-dipped ice cream sales, the Shoppe anticipates doing a material business in the sale of both ice cream cakes and gourmet traditional cakes and birthday cakes. These cakes will be displayed for immediate sale at all times during business hours and can also be produced in quantity on a special order basis for caterers and parties. Phenomenal foot traffic in the plaza and employees from the 200 shops in the mall can support a lucrative cake business for the Shoppe.
The goals and objectives of The Fran's Ice Shoppe of Davis are as follows:
To deliver a quality product in a consistent, courteous and timely manner in order to have the customer return again for another satisfying, flavorsome treat, while at the same time earning a reasonable return on the initial investment
The principals believe that for an organization to be successful, the organization must ensure that the customer continues to return to purchase the product, again and again. One way to ensure repeat business is to provide consistency in both the product and service. Fran's product speaks for itself; the service our Shoppe provides will be a function of training, evaluation, and retraining in order to deliver it courteously and in a timely manner.
In order to earn a reasonable return on the investment, along with the ability to repay debt, strict cost-control measures will be implemented. These measures will include, among others, proper and prudent purchasing practices, maximization of product distribution through strict adherence to weights, amounts and recipes (portion control), effective utilization of personnel, and the constant search for ways to reduce the cost of sales of our products without sacrificing quality and service.
In summary, the principals are committed to ensuring that this operation is successful.
THE MARKET
The purchase of hand-dipped ice cream and related products is basically an impulse-type purchase by a consumer relating to one of the following stimuli:
Passing by the Shoppe on the way to another destination,
Visual contact with the Shoppe's signs,
Observing someone else consuming one of the Shoppe's products,
The final course (dessert) after a meal has been consumed elsewhere.
Locating the Shoppe in Davis Plaza gives the business the opportunity to take advantage of all of the above mentioned ways which motivate the consumer to purchase the products offered.
Passing by on the Way to Another Destination
Davis Plaza is comprised of the best known, nationally recognized retail stores and outlets. The unique blend of these operations draws a large cross section of the population to the Plaza to shop for a variety of goods and services. The Fran's Ice Shoppe of Davis will be a 556 square foot store located at the entrance to the food court of the mall. It is on the second level, right across from the main escalators carrying shoppers from the lower to the second level. It is between the main parking structure and B.P.'s, requiring all B.P.'s patrons entering from the main parking structure to pass directly in from of the Shoppe on their way to B.P.'s. The Shoppe is well within