Business Plans 101 Presented by: Thomas O. Willingham Point Blank Range & Gun Shop Cincinnati, Ohio [email protected]
Business Plans 101 - Action Target Plans 101 Presented by: Thomas O. Willingham Point Blank Range & Gun Shop Cincinnati, Ohio [email protected] Define The Problem: I need a Business
Mar 15, 2018
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Business Plans 101
Presented by:Thomas O. Willingham
Point Blank Range & Gun ShopCincinnati, Ohio
Define The Problem:
I need a Business Plan and it will not write itself!!!!
Solution:
Pay someone else to do it or do it myself.
Business Plans
Definition of 'Business Plan'1. A written document that describes in detail how a new business is going to achieve its goals. A business plan will lay out a written plan from a marketing, financial and operational viewpoint.
2. A written document describing the nature of the business, the sales and marketing strategy, and the financial background, and containing a projected profit and loss statement
Business Plans
Business Plans
Tools Needed
Do not reinvent the wheel – Find a good example or template of one and use it.
There are many good web sites and programs available.
Common Sense
www.Liveplan.com
http://www.sba.gov/category/navigati
on‐structure/starting‐managing‐business/starting‐business/how‐write‐business‐plan#
Business Plans Resources
TABLE OF CONTENTS
INTRODUCTION 1
COVER SHEET 1
STATEMENT OF PURPOSE (MISSION STATEMENT) 2
THE BUSINESSLegal Structure 2
Description of the Business 2
Products or Services 3
Location 3
Management 3
Personnel 3Methods of Record Keeping 3
Insurance 4Security 4
Summary 5
MARKETING
Target Market 5
Competition 5
Methods of Distribution 5
Advertising 7
Pricing 7
Product Design 7
Timing of Market Entry 7
Location 8
Industry Trends 8
FINANCIAL DOCUMENTS
Summary of Financial Needs 8
Sources and Uses of Funds Statement 9
Cash Flow Statement (Budget) 9Three‐year Income Projection 10
Break‐even Analysis Graph 15
Actual Performance Statements 16Balance Sheet 16
Summary 21
SUPPORTING DOCUMENTS
Personal Resumes 22
Personal Financial Statement 22
Credit Reports 22Copies of Leases 22
Letters of Reference 22
Contracts 22Legal Documents 23
Miscellaneous Documents 23
Business Plans Outline
Select a template
Make an organized file – folder for each heading or subject Collect data
STOP COLLECTING DATA Write, or fill in, the easier stuff first – build your confidence Build a skeleton then work off that and fill in the hard stuff later
– by then you will have momentum and see the end is near If data not available at that time, use your best guess – that way
it keeps it moving
If blocked somehow – go to financials and work on them – that is a default mode to keep going
Getting Started
Use Graphs
Show Trends
Revenues
Sales ‐ Firearms
Sales ‐ HandgunsSales ‐ Long gunsSales ‐ Used gunsSales ‐ Class IIISales ‐ LE Firearms
Sales ‐ Ammunition
Sales ‐ ClothingSales ‐ Optics/SightsSales ‐ Firearm accessoriesSales ‐ Tactical accessoriesSales ‐ Safety productsSales ‐ TargetsSales ‐ SafesSales ‐ Safes Full SizeSales ‐ KnivesSales ‐ Cleaning productsSales ‐ OtherOther Income
Interest Income
Range Time
Laser RentalFirearms RentalEye & Ear Protection RentalEar Protection RentalSales ‐ Gun casesSales ‐ HolstersSales ‐ Shooting accessories
Academy SalesMemberships
Recycled Materials
Miscellaneous RevenueGun Cleaning RevenueSafe Delivery Income
Firearms TransfersConsignment Sales Commission
Vending Machine Income
Employee Uniforms
Rental Income
Finance Charge Income
Sales Tax ReductionShipping Charges Reimbursed
Sales Returns and AllowancesSales Discounts
Total Revenues
Cost of SalesCost of SalesPurchase Returns and AllowancePurchase DiscountsPurchase Discount ‐ Firearms
Purchase Disc ‐ Rental FirearmPurchase Discount ‐ Ammo
Total Cost of Sales
Line Item Revenue Example
Expenses
Obsolescence & ShrinkageAdvertising ExpenseIn‐Store Promos
Fuel expenseRange Maintenance
Bank FeesCredit Card Processing FeesCash Over and ShortCharitable Contributions Dues and Subscriptions Membership ExpenseInsurance
Interest ExpenseBuilding Security ExpenseLawn Care and Snow Removal
Legal and Professional ExpenseLicenses ExpenseMaintenance ExpenseMeals and Entertainment Office Supplies & ExpenseComputer Supplies & ExpenseCleaning Supplies and Expense
Employee Uniform ExpenseEmployee Background CheckEmployee Lead, Lab, & ZPP testsEmployee TrainingPayroll TaxesProperty TaxesPostage ExpenseRent or Lease ExpenseStore Supplies & ExpensePromotional Event ExpenseEmployee PerksClass InstructorPayroll
Payroll FeesUtilities ‐ ElectricUtilities ‐ Water
Utilities ‐ CableUtilities ‐ PhoneUtilities ‐ Trash
Line Item Budget Example
http://www.nssf.org/ranges/
http://rangeservices.nra. org/
http://www.fbi.gov/about‐us/cjis/nics/nics
Data Sources
What’s It Look Like?
What’s It Look Like?
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