How To Write A Retail Business Plan

How To Write A Retail Business Plan-25
For example, a retail bakery could forecast how many customers will visit during the morning hours versus the afternoon hours, which products they purchase -- doughnuts and rolls in the morning and cakes and cookies in the afternoon -- and the average dollar purchase.Make sure you include all categories of expenses, no matter how small, in your forecast.

For the business to succeed, the need must be urgent enough that target customers will be willing to visit the store and make a purchase.

The target market must also be large enough to support the store and generate sufficient sales that the retail business will be profitable.

Describe your target customers so vividly that the reader of your plan can see them as individuals.

Avoid demographic generalizations such as you intend to market to 21 to 35 year olds.

Within the Executive Summary, businesses should summarise the shop business plan and their key objectives.

This can be split into subsections, such as “Objectives”, “Mission” and “Keys to Success”, to make the information easier to read.

Prepare a month-by-month forecast of revenues and expenses.

Build a revenue model that reflects the sales process with measurable variables you can track over time.

Discuss your distribution channels -- how you will get your products in front of customers.

Choices include store retailing, mail order business, Internet retailing and vending machines.

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